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Re: RSI Indicators for MT4

#1431
RZAMK wrote:
Mon Oct 12, 2020 6:38 pm
vvFish wrote:
Mon Oct 12, 2020 4:13 pm

;)
Dear fish, :In Love: :)
Thanks again for posting the temp, can U tell us about 5day_mod_txt and m-BankLevels and if so, on what basis do they work?
;)
I just like these levels, try it, maybe you will like them too.
Good luck!!!!
"Only the price on the chart can show the entrance to the deal..."


Re: RSI Indicators for MT4

#1432
TEAMTRADER wrote:
Wed Sep 04, 2019 4:25 am
Mr Tools,
Could an on screen divergence signal/arrow be added to this indicator? ONLY when the levels of 20 and 80 have been reached. This is important as these reflect the bigger moves.
Thanks
TEAMTRADER

Image
This is a really cool idea, I was searching through the forum for this indicator with Divergences but it seems we are not equipped with one yet. Hoping Mrtools will be able to upgrade this for us.

PS: For Mrtools, here's the indicator that TEAMTRADER posted :)
rsima 13 nmc 6 lines ENTRY-EXIT.mq4
(16.93 KiB) Downloaded 532 times
Trade with the broker that supports our work! FBS are offering $140 to get you started! Click, here to begin live trading, today.
No commissions are earned by Forex-station.


How to: Draw Fibonacci Extensions the easy way
How to: Identify major Support & Resistance using the line chart

Re: RSI Indicators for MT4

#1433
TEAMTRADER wrote:
Mon Oct 12, 2020 5:12 am
My colours are as follows:-

  • White 115 to 76 (Target/exit area)
  • White 24 to -15 (Target/exit area)
  • Lime 76 - 54 Up area
  • Hot Pink 46 - 24 Down area
  • Yellow 54 to 46 (sideways area)
man thx for posting u setup teamtraders.................. really good this rsi & chart colors :hug: :hug: :hug:
Contribution Inspector & GIF Animator at your service👮

Re: RSI Indicators for MT4

#1434
Jimmy wrote:
Mon Oct 12, 2020 10:01 pm
TEAMTRADER wrote:
Wed Sep 04, 2019 4:25 am
Mr Tools,
Could an on screen divergence signal/arrow be added to this indicator? ONLY when the levels of 20 and 80 have been reached. This is important as these reflect the bigger moves.
Thanks
TEAMTRADER

Image
This is a really cool idea, I was searching through the forum for this indicator with Divergences but it seems we are not equipped with one yet. Hoping Mrtools will be able to upgrade this for us.

PS: For Mrtools, here's the indicator that TEAMTRADER posted :)
One question, if the rsi ma is say greater than level overbought do we only want to look for bear divergence or bull and bear divergence. Same with oversold level if rsima < oversold level do we want to only look for bullish divergence or both.

Re: RSI Indicators for MT4

#1435
mrtools wrote:
Tue Oct 13, 2020 5:19 am
One question, if the rsi ma is say greater than level overbought do we only want to look for bear divergence or bull and bear divergence. Same with oversold level if rsima < oversold level do we want to only look for bullish divergence or both.
Yep :)

From looking back on it's signals, the best trades would be found if:

  • If RSI MA is outside 80 Overbought we'd look for Bearish Divergence signal (to forecast a reversal to the downside)
  • If RSI MA is outside 20 Oversold we'd look for Bullish Divergence (to forecast a reversal to the upside)

Would be great brother, if you're free!
Trade with the broker that supports our work! FBS are offering $140 to get you started! Click, here to begin live trading, today.
No commissions are earned by Forex-station.


How to: Draw Fibonacci Extensions the easy way
How to: Identify major Support & Resistance using the line chart


Re: RSI Indicators for MT4

#1436
Jimmy wrote:
Mon Oct 12, 2020 10:01 pm
TEAMTRADER wrote:
Wed Sep 04, 2019 4:25 am
Mr Tools,
Could an on screen divergence signal/arrow be added to this indicator? ONLY when the levels of 20 and 80 have been reached. This is important as these reflect the bigger moves.
Thanks
TEAMTRADER

Image
This is a really cool idea, I was searching through the forum for this indicator with Divergences but it seems we are not equipped with one yet. Hoping Mrtools will be able to upgrade this for us.

PS: For Mrtools, here's the indicator that TEAMTRADER posted :)
Try it out.

PS: If you would like to download a template with the indicator set up with Classic Divergences, see here: RSI MA 6 Lines Divergence indicator settings template for MT4.
rsima 13 nmc 6 lines ENTRY-EXIT divergence.ex4
(91.22 KiB) Downloaded 1951 times
EURUSDM5.png

Re: RSI Indicators for MT4

#1437
mrtools wrote:
Wed Oct 14, 2020 3:08 am
Try it out.
You've done it :)

This is a special indicator, indeed and the best part is that it filters those Divergence signals so well. For me, this is the Best RSI Divergence indicator on MT4 now.

Divergences are only visible on this indicator if:

  • If RSI MA is outside 80 Overbought, Bearish Divergence signal will appear (to forecast a reversal to the downside)
  • If RSI MA is outside 20 Oversold, Bullish Divergence signal will appear (to forecast a reversal to the upside)

Thank you Mrtools for taking time to upgrade & optimize this indicator for us & thanks to TEAMTRADER for the great suggestion and for sharing his settings in the previous posts.

PS: For traders looking for a template to get you started, here's what we've posted today:
RSI MA 6 Lines indicator with Divergence for MT4.png
RSI 6 Lines Divergence.tpl
(46 KiB) Downloaded 1540 times
RSI 6 Lines Divergence Chart Template MT4.zip
(280.42 KiB) Downloaded 2539 times
Trade with the broker that supports our work! FBS are offering $140 to get you started! Click, here to begin live trading, today.
No commissions are earned by Forex-station.


How to: Draw Fibonacci Extensions the easy way
How to: Identify major Support & Resistance using the line chart

Re: RSI Indicators for MT4

#1440
Jimmy wrote:
Wed Oct 14, 2020 8:05 pm
mrtools wrote:
Wed Oct 14, 2020 3:08 am
Try it out.
You've done it :)

This is a special indicator, indeed and the best part is that it filters those Divergence signals so well. For me, this is the Best RSI Divergence indicator on MT4 now.

Divergences are only visible on this indicator if:

  • If RSI MA is outside 80 Overbought, Bearish Divergence signal will appear (to forecast a reversal to the downside)
  • If RSI MA is outside 20 Oversold, Bullish Divergence signal will appear (to forecast a reversal to the upside)

Thank you Mrtools for taking time to upgrade & optimize this indicator for us & thanks to TEAMTRADER for the great suggestion and for sharing his settings in the previous posts.

PS: For traders looking for a template to get you started, here's what we've posted today:
Don't know how it works but this is the result from today at my first chance to look at it.
It missed a bear divergence (short black lines) but picked up the hidden divergence - that I did not pick up by eye.
THEN before I had finished this post the bear divergence showed up on chart.
I watched this live to ensure the short was good and waited till the exit.
Consecutive screengrabs show the sequence of waiting and importantly the EXIT - when the RSx has reached the 20 level in this case. +10 points for that very safe trade.
Brilliant indi and it ensures everyone will have safer trading.
Thanks on behalf of all day traders.
TEAMTRADER
DE30sbM1.png
DE30sbM1 -2.png
DE30sbM1 -3.png
DE30sbM1 -4.png


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