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Re: RSI Indicators for MT4

1184 by Ayrton
hi - wishing you well , thankyou for sending to the direct page - however the spear-man indicator is coming up blank and the 2nd file on post 382 to says do you whish to download even though it is harmful for your computer i clicked it any way as everything else on hear is sublime

but cant seem to get it going - hopefully you can help many thanks !

Re: RSI Indicators for MT4

1185 by Jimmy
Ayrton wrote: Thu Sep 05, 2019 8:24 am hi - wishing you well , thankyou for sending to the direct page - however the spear-man indicator is coming up blank and the 2nd file on post 382 to says do you whish to download even though it is harmful for your computer i clicked it any way as everything else on hear is sublime

but cant seem to get it going - hopefully you can help many thanks !
For the Spearman Rank Correlation of RSI you'll need to place the the spearman.dll file into your MQL4>Libraries folder (and no, it's not a harmful file it's just windows being a nanny).

I've just reviewed it and it works ;)
Myfxbook live trading results 📊

List of our most powerful reversal indicators + Guide to the "All Averages" Filters (ADXvma, Laguerre etc.)
Fibonacci numbers for indicator settings + How to draw Fibonacci Extensions + How to draw Support & Resistance

Re: RSI Indicators for MT4

1186 by gtudor
Jimmy wrote: Sat Jul 06, 2019 2:08 am This is Mrtools & Mladen's optimized RSX Coronforex NRP for MT4 which comes with Alerts and is a good indicator for scalping on all timeframes.

Instructions on how to use the indicator:

RSX nrp coronforex indicator is an oscillator that is drawn and works with zones of overbought and oversold markets.

Trading using RSX nrp coronforex indicator:


  • When The indicator line has raised to maximum values (greater than 80), then this means that the price of a financial instrument is overbought. And it is a signal to sell. Red arrows will be shown on the chart also.
  • When The indicator line has lowered to the minimum values (less than 20), then this means that the price of a financial instrument is oversold. And it is a signal to buy. Green arrows will be shown on the chart also.

An additional signal is the color of the indicator line. If the line indicator is green, this means that there is an uptrend. If the line is pink then it is a signal of a downtrend. One of the major ways to trade using the indicatoris when the green arrow then place a buy position , when its changes to red arrow then close the current buy transaction and open a new sell one, and vice versa.

RSX nrp coronforex indicator is a successful modification of the Coronforex indicator, its profitable and exactly worthy to look at it closer. It can act as an independent trading strategy or part of the trend of the system as a supplement.
It is possible to change this indicator to MTF ( Multi time frame)?
Thank you

Re: RSI Indicators for MT4

1189 by TEAMTRADER
In my (humble) opinion these indicators are the best and easiest to trade in the RSI/RSX family.
Key levels are 80 for overbought and 20 for oversold with the faster of the two RSx ma's.
Central area of 40 - 60 is the sideways/choppy area.
As you can see I colour code for ease of recognition but it is not necessary.
It is a great divergence indicator too.
TEAMTRADER
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Re: RSI Indicators for MT4

1190 by J_C_Anderson
By the way, which main levels should one use for RSI?

I`ve found several opinions on this. The most common are 30 and 70, but someone use 20 and 80. To my mind, the latter combination would help to reduce the number of false breakouts while providing less trading signals. At the same time, the first combination is much more popular. For example, here is the testing of RSI-based strategy forextester with that set of levels.

So, the question is: does the moving levels to the borders makes the indicator less sensitive or it doesn`t work this way?
And also it is interesting whether it is necessary to change the levels if the volatility will change.

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