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Re: RSI Indicators for MT4

#1451
TEAMTRADER wrote:
Thu Oct 15, 2020 8:07 pm
mrtools wrote:
Thu Oct 15, 2020 8:49 am


Do you use the volatility bands, if not can remove them and make a much lighter version which maybe the divergence will be a little better, no promises on the divergence but it may be better? Maybe just tell me what all you use on the indicator and can remove the rest.
No, I do not use the volatility bands.
These are my settings - copied from the mq4 file.
Thanks
TEAMTRADER
//+------------------------------------------------------------------+
//| rsimabands |
//| |
//+------------------------------------------------------------------+

#property copyright "www.forex-station.com"
#property link "www.forex-station.com"

#property indicator_separate_window
#property indicator_buffers 9
#property indicator_color1 clrNONE
#property indicator_color2 clrBlue
#property indicator_color3 clrRed
#property indicator_color4 clrPlum
#property indicator_color5 clrNONE
#property indicator_color6 clrBlue
#property indicator_color7 clrRed
#property indicator_color8 clrPlum
#property indicator_color9 clrNONE
#property indicator_width2 2
#property indicator_width3 2
#property indicator_width4 11
#property indicator_width6 6
#property indicator_width7 6
#property indicator_width8 11
#property indicator_levelcolor clrBrown
#property indicator_levelstyle STYLE_SOLID
#property indicator_levelwidth 3
//
//
//
//
//

enum enPrices
{
pr_close, // Close
pr_open, // Open
pr_high, // High
pr_low, // Low
pr_median, // Median
pr_typical, // Typical
pr_weighted, // Weighted
pr_average, // Average (high+low+open+close)/4
pr_medianb, // Average median body (open+close)/2
pr_tbiased, // Trend biased price
pr_haclose, // Heiken ashi close
pr_haopen , // Heiken ashi open
pr_hahigh, // Heiken ashi high
pr_halow, // Heiken ashi low
pr_hamedian, // Heiken ashi median
pr_hatypical, // Heiken ashi typical
pr_haweighted, // Heiken ashi weighted
pr_haaverage, // Heiken ashi average
pr_hamedianb, // Heiken ashi median body
pr_hatbiased // Heiken ashi trend biased price
};
enum enRsiTypes
{
rsi_rsi, // Regular RSI
rsi_wil, // Wilders RSI
rsi_rsx, // RSX2
rsi_cut // Cuttlers RSI
};

extern double RsiPeriod = 43;
extern enRsiTypes RsiType = 2;
extern enPrices RsiPrice = 15;
extern int Depth = 2;
extern double Speed = 0.5;
extern int RsiPriceLinePeriod = 2;
extern ENUM_MA_METHOD RsiPriceLineMAMode = MODE_LWMA;
extern int RsiSignalLinePeriod = 7;
extern ENUM_MA_METHOD RsiSignalLineMAMode = MODE_LWMA;
extern int VolatilityBandPeriod = 17;
extern ENUM_MA_METHOD VolatilityBandMAMode = MODE_LWMA;
extern double VolatilityBandMultiplier = 0.00;
extern double LevelDn = 24;
extern double LevelDn1 = 34; //Was -11
extern double LevelMid = 46;
extern double LevelMid1 = 54;
extern double LevelUp = 66;
extern double LevelUp1 = 76; //Was 115
extern bool ColorOnSlope = true;
extern bool verticalLinesVisible = true; // Show vertical lines
extern bool linesOnNewest = true; // Lines on newest bar?
extern string verticalLinesID = "TDI Lines1"; // Lines ID
extern color verticalLinesUpColor = clrBlue; // Lines up color
extern color verticalLinesDnColor = clrRed; // Lines down color
extern ENUM_LINE_STYLE verticalLinesStyle = STYLE_DOT; // Lines style
extern int verticalLinesWidth = 8; // lines width
This should be a lighter version.
rsima + baseline (divergence).ex4
(74.78 KiB) Downloaded 85 times
GBPUSDM15.png


Re: RSI Indicators for MT4

#1454
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:
Hi.
Can you add an alarm to this indicator?

edit : found it ..thanks mr tools :)

Re: RSI Indicators for MT4

#1455
mrtools wrote:
Sat Oct 17, 2020 7:04 am
camisa wrote:
Sat Oct 17, 2020 12:02 am
hi mrtools

Is it possible to add alerts on current bar to the divergences please?

rsima + baseline (divergence)
Divergence alerts added.
Very accurate divergence 👍🏻


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