Delta_RSI - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

Trend analyzer based on the difference of two RSI oscillators with different periods.

This indicator is useful for those who analyze two RSI indicators with different periods (fast and slow), their relative position, and the position of the slow RSI relative to a specified level (for example, 50).

That is, if the slow RSI is greater than 50, and the fast RSI is greater than the slow RSI - plot the histogram with overbought color.

If the slow RSI is less than 50 and the fast RSI is less than the slow RSI - plot the histogram with oversold color.

All settings are customizable: color, signal level (50), slow and fast RSI periods, histogram display type.

 //+------------------------------------------------------------------------+
//|Indicator input parameters |
//+------------------------------------------------------------------------+
Input TypeGraph TypeGr=Histogram; // Input chart
//---
Input unit RSIPeriod1= 14 ; // Rapid RSI period
Enter ENUM_APPLIED_PRICE RSI price 1= PRICE_CLOSE ; //---
Input unit RSIPeriod2= 50 ; // Slow RSI period
Enter ENUM_APPLIED_PRICE RSI price 2= PRICE_CLOSE ; //---
Input unit level = 50 ; // signal level
//---
Input integer shift = 0 ; // indicator moves horizontally (in bars)

The indicator has 5 buffers which you can use at your discretion.

The indicator was originally written in MQL4 and first published in the code base on September 27, 2016.

Figure 1. Complete histogram of the Delta_RSI indicator

Figure 2. Shortened histogram of the Delta_RSI indicator

Attachment download

📎 delta_rsi.mq5 (15.74 KB)

Source: MQL5 #16476