Flat Trend RSI – VertexFX indicator

The Flat Trend RSI indicator is based upon the RSI indicator, and provides trading signals when specific RSI thresholds are crossed. The concept behind the Flat Trend RSI is that a strong bullish continues when the RSI rises above 70, and till it leads to exhaustion of that trend. Similarly, a strong bearish trend continues when the RSI falls below 30, and till exhaustion of this bearish trend, at which time it starts rising again.
To calculate the Flat Trend RSI, we first calculate the RSI over RSI_PERIOD. A threshold filter of 70 is used to determine whether the RSI is bullish. When the RSI is above 70, it indicates a bullish breakout, whereas a RSI value below 30 indicators a bearish trend.

BUY - Enter BUY when the indicator value is 1.0.
SELL - Enter SELL when the indicator value is -1.0.