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

RSI_Histogram_Vol Indicator in the form of candlesticks. Candlestick charts are the result of processing a related price time series by an indicator algorithm. In many cases, this approach may provide more information for analytical purposes.

In this version of the indicator, it is more reasonable to apply only one overbought and oversold level. The channel formed between these levels is colored lavender, and all candles closed within this channel are colored classic green and red, depending on the direction of the candle. The closed candles outside the channel are either aquamarine or pinkish brown, depending on their direction into the channel.

 //+--------------------------------------------------------+
//| Indicator input parameters |
//+--------------------------------------------------------+
Input unit RSIP period = 14 ; // indicator period
input ENUM_APPLIED_VOLUME volume type = volume_scale ; // volume
Enter integer High level = + 15 ; // Overbought level
Enter integer low level = - 15 ; // oversold level
Input unit gap = 10 ; // points gap not taken into account
Input integer shift = 0 ; // indicator moves horizontally (in bars)

Figure 1. RSI_Candle_Vol

Attachment download

📎 rsi_candle_vol.mq5 (26.03 KB)

Source: MQL5 #21914