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

HLCrossSigForRSI is considered a trend indicator because it is designed to "catch" trends. However, it is a rather complex and informative indicator that excludes psychological and emotional influences from trading.

The indicator shows opening levels, setting stop loss levels, trailing stop loss and take profit, giving traders no doubt when executing trades. Avoiding psychological and emotional influences in trading is a key factor in making profits in the market.

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//|Indicator input |
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Input integer Supr_Period= 6 ; //The period of the breakthrough interval; the larger the value, the later and rarer the signal
Input integer MA_period = 21 ; //Heiken Ashi variable period. Use as additional filter
Input integer risk = 0 ; //Maximum risk point used to calculate entry levels based on nearest max/min levels
Input integer ATR_period = 120 ; //АТR period. Used to calculate volatility.
Enter double Q= 0.7 ; //Set the parameters of take profit. - Stop loss rate. If =1, take profit = stop loss
Input integer RSI_period = 12 ; //RSI period. Use as additional filter
Enter ENUM_APPLIED_PRICE RSI price = PRICE_CLOSE ; //RSI price
Enter the integer horizontal line = 60 ; //RSI the upper signal line of the stop loss level
Enter integer line = 40 ; // lower signal line of RSI stop level

Display elements of the indicator:

Figure 1. HLCrossSigForRSI indicator

Attachment download

📎hlcrosssigforrsi.mq5 (31.95 KB)

Source: MQL5 #22643