RSI Bands - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
François Bertrand's TASC April 2008 article describes a "what if" RSI indicator: what the price should be in order to reach a certain target RSI level.
This indicator helps in a number of ways, but mainly by visualizing on the main chart what price changes will trigger an expected overbought or oversold signal. On the main chart, it is easy to assess whether the price change is realistic or is nowhere near the level required for the signal and therefore is far from signaling a change in trend.
Attachment download
📎 rsi_bands.mq5 (12.09 KB)
Source: MQL5 #20387
RSI Band - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
RSI Band - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •
