RSICCIDiv - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources
How the indicator works
Draw arrows when:
purchase:
RSI is above the upper limit (determined by RSILowerLevel). Use default settings - higher than 40.
CCI is below the lower level. Use default settings - less than -200
If CheckLastRSIZone is enabled, the RSI is checked for the last overbought/oversold zone at the (RSILowerLevel_2) level.
If ReverseRSIZone=false, the arrow should appear and the last zone should be higher than the upper layer. The default setting is above 70.
If ReverseRSIZone=true, the last value of RSI must be below the lower limit, which is set below 30 by default.
Sell:
Same, but opposite.
Indicator parameters
RSIPeriod - RSI period.
RSIPrice - RSI price: 0-closing price, 1-opening price, 2-highest price, 3-lowest price, 4-median value, 5-typical value, 6-weighted value.
RSILowerLevel - the lower limit of RSI, the upper limit is defined as 100-RSILowerLevel. RSI below lower levels is considered a bearish trend and above higher levels is considered a bullish trend.
RSILowerLevel_2 - The lower level of RSI used to identify the last overbought or oversold areas. The upper level is defined as 100-RSILowerLevel_2.
CheckLastRSIZone - Checks the RSI for the last overbought/oversold zone.
ReverseRSIZone - Reverse RSI's last overbought/oversold zone.
CCIPeriod - CCI period
CCIPrice - CCI price: 0-closing price, 1-opening price, 2-highest price, 3-lowest price, 4-median, 5-typical price, 6-weighted price.
CCILevel - The upper level of CCI. The lower level is equal to -CCILevel.
Attachment download
Source: MQL5 #7625
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