RSI Sum - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
The principle of this indicator is simple:
It takes the nnn RSI value specified by the period parameter and checks whether all nnn RSI values are above or below the required value. If they are both above, it is shown as state up, if both are below the required low level, it is shown as state down, otherwise it is shown as neutral state. One might argue that this status can be obtained by checking only the slowest RSI, but in some cases this is not the case (it depends a lot on the period used), so the indicator does this for all specified RSI values
The periods used can be specified as a list separated by ":". The default value is 14;15;16;17;18;19;20;21
You can use color changes as signals
PS: Example compared to RSI used
Attachment download
📎 rsi_summed.mq5 (6.94 KB)
Source: MQL5 #24751
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •
