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This is a Pine script for creating a binary options trading strategy with RSI and its moving averages.
Next, the script defines two input variables, rsiLengthInput and rsiSourceInput , using the input function. These variables are used to specify the length and source of the RSI calculation, respectively. The maLengthInput variable is also defined using the input function, which is used to specify the length of the moving average.
The script then calculates the RSI using the rsi variable, which is calculated using the RSI formula in the Pine script. The up and down variables are used to calculate the RSI, and the rsiMA variable calculates the simple moving average of the RSI.
The is_call and is_put variables are used to determine whether to buy a call option or a put option, respectively. is_call is set to true when the RSI crosses above its moving average ( ta.crossover(rsi,rsiMA) ) and the RSI is between 30 and 70. is_put is set to true when the RSI crosses below its moving average ( ta.crossunder(rsi,rsiMA) ) and the RSI is between 30 and 70.
Finally, the script plots the buy and sell signals on the chart using plotshape , which plots arrows above or below the bars. It also sets up alerts to notify the user when a buy or sell signal occurs using the alertcondition function.
Convert this to MT5 indicator for doing the same thing
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