mrtools wrote: Tue Jun 28, 2022 3:48 am Try.

This new version is basically the same as the version of MT5. it is good!

The teacher's merit is boundless!

RSI Troughs


Attached is a template to find the Troughs.
You know, the Valleys, the bottoms.

H1 and higher are the best timeframes.

For now, we will use RSI (2) to RSI (9) to find the bottoms.

Stoch (4,3,1) is very close to ZeroLag Stoch (5,3,3).
We will use the Stoch to enter a trade.

Also check out to see if CCI can find Peaks and Troughs over here:
viewtopic.php?p=1295481551#p1295481551

Banzai wrote: Mon Jun 27, 2022 4:49 am

RSI Peaks and Troughs

Use this template to see the overbought and oversold areas.


The image above shows the RSI clearly breaking above the 70 level resulting in an overbought reading.
But a seasoned trader will not look to immediately sell because there is uncertainty as to how far price could continue to rally.
Traders ideally will wait until the RSI falls back below 70 and then place a short trade.
This gives a better entry and a higher probability trade.
When the RSI falls below 30, same rules apply.
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Download:

Color RSI (arrows alerts) ahtf.mq4

Banzai wrote: Fri Jul 01, 2022 12:21 am Use this template to see the overbought and oversold areas.

If this approach works for you: brilliant! I wish you all the best using it...
However, my thoughts about overbought and oversold:
Rising RSI (or Stoch, for that matter) means rising momentum - so 80 (and above) means extremely strong momentum; to sell there is madness (except in ranges, sometimes...)
20 and below: opposite rules apply....

A more logical approach:
RSI
< 50: look for sell-entries
> 50: look for buy-entries
Of course this is a simplification.
(as you can see from the screenshot you have to imagine 50 more as an area than a line...)
[Could you have made money today using this oversimplistic principle? Yes, you could....
That could mean: your coloured areas aren't entry-areas but exit-areas...]

[quote=Banzai post_id=1295481583 time=1656598877 user_id=4934612]
I have nothing against it, but judging by the screenshot, the "experienced trader" went the wrong way)))

RSI Peaks and Troughs
(on/off button)

Here are the indicators:
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edit 7/2/22
Please use a newer version at:

viewtopic.php?p=1295481752#p1295481752

Thank you.

Banzai wrote: Fri Jul 01, 2022 2:06 am Here are the indicators:

Thanks once again - and I still wish you all the best trading this system....
the screenshot may simply show different styles of trading...

mntiwana wrote: Fri Feb 24, 2017 10:13 am Some RSI candles and bar versions here

MTF Rsi Candle All in One
Nonlag RSI Candles mtf alert nmc
RSI MTF candles_2

@mrtools
Hello, this is my first post in this forum... Its incredible job you guys are doing. I have gained lot of knowledge from this forum I'll be grateful
My request is for to add RSI MTF candles_2 with arrow and alert.
Thank you

mrtools wrote: Sat Mar 13, 2021 2:28 am Yes there was a problem with the mtf, Thanks for bringing it to my attention.

would you be able to add the TMA (Triangular Moving Average) as an option for the MA Smoothing Average Type?

RSI OB OS
(on/off button)

I'm going to rename this indicator to OB OS.
Only super coder like mladen and mrtools can find the peaks and the troughs.

OB = overbought
OS = oversold

For this indicator, if you see a candlestick under the SMA (20),
which is also the middle line of the Bollinger Band,
and a bunch of red dots in the oversold area,
then it's a downtrend.
Vice versa for an uptrend.