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CustomRsi50

FREE

Published: 4 September 2024

Current version: 1.4

CustomRsi50

Indicators
Francesco Capurso
Version: 1.4
Updated: 6 September 2024

CustomRSI50 - Custom RSI Indicator with Level 50

Description

CustomRSI50 is a custom technical indicator based on the popular Relative Strength Index (RSI). This indicator offers a clear and customizable visualization of RSI with a particular emphasis on the level 50, which is crucial for many traders in momentum analysis.

Key Features

Configurable RSI period
Highlighted level 50 reference
Customizable applied price type
Display in separate window
Fixed scale from 0 to 100 for easy interpretation

Customizable Parameters

RSI_Period: Allows setting the period for RSI calculation (default: 14)
applied_price: Allows selecting the price type for calculation (default: Close price)

How to Use CustomRSI50

Apply the indicator to any chart in your MetaTrader 5
Customize the RSI period and price type according to your preferences
Observe the RSI movement in relation to the 50 level:
- Values above 50 indicate bullish momentum
- Values below 50 indicate bearish momentum

Advantages

Clear visualization of market momentum
Easy identification of trend changes around level 50
Customization to adapt to various trading strategies

CustomRSI50 is the ideal tool for traders who want a clear and customizable RSI analysis, with a particular focus on the critical level 50.

Note

This indicator is provided free of charge to the trading community. Please leave feedback or a rating if you find it useful in your trading.

Changelog

Version 1.4 - 06/09/2024

Fixed display issue causing interruption in the RSI line.
Improved buffer initialization for more accurate RSI value representation across the chart.
Optimized RSI calculation for greater precision.
Added debug output to facilitate troubleshooting of potential future issues.
Enhanced data handling for smoother indicator visualization.

These updates significantly improve the stability and accuracy of the CustomRSI50 indicator, providing a more reliable visualization of market momentum.

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Version 1.4 2024.09.06

Fixed drawing issue with CustomRSI50 indicator. Improved buffer initialization and data handling to ensure correct display of RSI values throughout the chart. Added debug output for easier troubleshooting.