Reverse Engineering RSI
Info
The Reverse Engineering RSI is a Indicator for MetaTrader 5 that this indicator is based on an article by giorgos siligardos titled "the revenge of the indicators: reverse engineering rsi," originally published in stocks & commodities magazine in june 2003. The indicator performs an inverse mathematical transform of the Relative Strength Index (RSI) into price.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Reverse Engineering RSI
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
This indicator is based on an article by Giorgos Siligardos titled "The Revenge of the Indicators: Reverse Engineering RSI," originally published in Stocks & Commodities magazine in June 2003.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Reverse RSI Bands Indicator - another powerful indicator for MetaTrader 5 traders.
This indicator is based on an article by Giorgos Siligardos titled "The Revenge of the Indicators: Reverse Engineering RSI," originally published in Stocks & Commodities magazine in June 2003. The indicator performs an inverse mathematical transform of the Relative Strength Index (RSI) into price. It assists in estimating the approximate closing price for the next day if the RSI reaches a specific value.Also recommended: nrtr (nick rypock trailing reverse) - similar indicator with strong performance on MetaTrader 5.
The indicator has four input parameters:
RSI Period
- The period used for calculating the RSI.
MA Period
- The period for the Moving Average calculation.
Method
- The method used for calculations.
Applied Price
- The price used for calculations.
Calculation:
If RMA is not equal to 0:
RERSI = Applied Price + X * (100.0 - RSI_MA) / RSI_MA)
Otherwise:
RERSI = Applied Price + X
Where:
If RSI_MA = 100:
X = (RSI Period - 1.0) * (ADC_MA * RSI_MA / (100.0 - RSI_MA) - AUC_MA)
Otherwise:
X = 0
If Applied Price > Previous Price:
UP = Applied Price - Previous Price
If Applied Price <= Previous Price:
DN = Previous Price - Applied Price
You may also like: Reverse Symbol Indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.