Forex RSI With Flat Indicator

Forex RSI With Flat Indicator:

Relative Strength Index with the market flat state detection option.

If the market is flat, the colored indicator cloud shrinks and is located at the value of 50, and a thick blue line appears. The criterion for determining this state is a shrunk Bollinger. The critical Bollinger shrink value is fixed by a half of its bandwidth and defined in the indicator input:

input uint flat=100; // flat value in points

Test results:

Forex RSI With Flat Indicator

Copy and paste the file into the MQL5 Indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL5 > Indicators (paste here)

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