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Re: MT4 Indicator requests and ideas

srinarayani13, Fri Sep 25, 2026 5:06 pm

Cagliostro wrote: Thu Sep 24, 2026 9:38 pm Please stop promoting this indicator as something that will help people make money. The MT4 code contains an RSI and three averages of that same RSI. The red line is not buying or selling volume, and the green line is not price.

The red line uses tick volume to weight the RSI. In spot forex, tick volume is a broker’s count of price updates, a proxy, not a measure of market wide traded volume or whether buyers or sellers are in control. On top of that, this MT4 conversion has a buffer indexing error that makes the plotted crosses unreliable.
This is not paid indicator to promote, I had used the same wording which are used by creator of indicator,

I found it useful, creator of indicator says if you practice and use it continually you can catch perfect trend reversal

Gold daily chart, buy given neart bottom and sell near top
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