Composite Index (Constance Brown Method)
Classic RSI is bounded between 0 and 100, and its own internal smoothing tends to pull it back toward a similar level on repeated tests of a strong trend - which is exactly when a trader most wants to see whether momentum is actually fading. The result is that RSI can fail to print a visibly lower high even while the underlying momentum genuinely has weakened, simply because the oscillator's own bounded, smoothed construction compresses the difference away. Constance Brown's Composite Index, published in "Technical Analysis for the Trading Professional", solves this by adding a second, unbounded term: the momentum of RSI itself (RSI now minus RSI a number of bars back, smoothed), added to a separately smoothed RSI. The momentum term is not capped at 0-100, so it can keep printing a structurally lower high even while RSI proper is stuck retesting the same ceiling - which is precisely the divergence classic RSI structurally cannot show. Brown's book describes the construction but does not publish exact source code, so this is a from-scratch reimplementation of the published formula - smoothed RSI momentum plus smoothed RSI - the same construction independently reproduced in several public scripts that also cite Brown as the source. It should be read as a faithful reconstruction of the method, not a copy of any proprietary implementation. Notes and limitations - The Composite Index is unbounded (no fixed 0-100 range) by design, since that is the property that lets it show divergence RSI cannot. Do not read it on an RSI-style 0/100/30/70 scale. - This is a documented reconstruction of a published formula, not a verified byte-for-byte match to Constance Brown's original commercial software - treat swing levels as directionally correct rather than as an exact replica of any specific proprietary output. - Does not repaint - each bar's value only ever uses RSI values at or before it.
Indicator · MT5 · v1.0 · Free
About Composite Index (Constance Brown Method)
Composite Index (Constance Brown Method) is an indicator for MetaTrader 5 based on RSI. It has 4 settings, such as Rsi period, Momentum period and Momentum smooth. MQL source code included.
Files in the download: CompositeIndexBrown.ex5, CompositeIndexBrown.mq5, CompositeIndexBrown.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Rsi period | 14 | RSI period feeding both terms of the composite |
| Momentum period | 9 | Lookback for the RSI momentum term (RSI - RSI[n bars ago]) |
| Momentum smooth | 3 | SMA period smoothing the momentum term |
| Rsi smooth | 3 | SMA period smoothing the RSI term |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 5 open File → Open Data Folder, then go to MQL5 → Indicators.
- Copy the .mq5 file(s) there. Put any .mqh files in MQL5 → Include.
- Open the .mq5 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: RSI · Divergence · Momentum · Oscillator · Trend · MT5 Indicator · MQL5 Source Code