Waddah Attar Reverse RSI
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This tool is designed as a visual performance indicator for traders who want to monitor market momentum and price strength in a clear, easy-to-read format. Instead of cluttering your main price chart, it appears in a separate window below it, providing a dedicated space for analyzing trends.
How the Logic Works
The core functionality of this script revolves around tracking the "Relative Strength Index" (RSI)—a standard market tool used to determine whether an asset is being bought or sold aggressively. However, this specific script applies a unique transformation to that data to provide a different perspective on the market.
Instead of showing the RSI value directly, the script performs a mathematical inversion:
- The Reflection: It takes the standard RSI value and subtracts it from 100. This effectively "flips" the logic of the indicator.
- Visual Interpretation: In a traditional RSI setup, high numbers usually indicate overbought conditions. By inverting the calculation, this script reverses that relationship. What was once a "high" reading becomes a "low" reading on your screen, and vice versa.
Visual Layout and Thresholds
The indicator is calibrated with three specific horizontal reference lines to help you identify key market zones:
- 30 & 70 Levels: These act as the primary boundaries for identifying extreme price action.
- 50 Level: This serves as the central equilibrium point, helping you identify the "middle ground" of the current trend.
Summary for Traders
Essentially, this script acts as a mirrored momentum tracker. By flipping the standard RSI data, it allows you to visualize market exhaustion and strength from an inverted perspective, using a dedicated scale (0 to 100) to help you spot potential turning points in price movement more effectively.
#property copyright "Waddah Attar"
#property link "waddahattar@hotmail.com"
//----
#property indicator_separate_window
#property indicator_buffers 1
#property indicator_color1 DarkOrange
#property indicator_maximum 100
#property indicator_minimum 0
#property indicator_level1 30
#property indicator_level2 70
#property indicator_level3 50
extern int RSIPeriod=14;
extern int RSIPrice=0;
//----
double Idx1[];
int init()
{
SetIndexStyle(0, DRAW_LINE, 0, 1);
SetIndexBuffer(0, Idx1);
return(0);
}
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
void start()
{
for(int i = 0; i <= Bars; i++)
{
Idx1[i]=(100-iRSI(NULL,0,RSIPeriod,RSIPrice,i));
}
}
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