ColorRSI - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Real author:
Classic RSI with colored signal levels. When the RSI indicator is in the oversold and overbought areas, the color of the indicator corresponding to the trend direction will change. Increasing trends make the indicator lettuce green, and decreasing trends red.
The indicator was first implemented in MQL4 and published in the code base of mql4.com on March 17, 2009.
Figure 1 ColorRSI indicator
Attachment download
📎 colorrsi.mq5 (7.88 KB)
Source: MQL5 #1650
ColorRSI - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
ColorRSI - 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 on titles or short-term profit descriptions.
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