Re: RSI Indicators for MT4

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TEAMTRADER wrote: Thu Oct 29, 2020 12:08 am As if anyone needs reminding of how good this indicator is - here is a fantastic HEAD & SHOULDERS pattern ON THE INDICATOR that any good trader would have claimed over 40 points profit in 10 minutes.
Mr Tools - this is a great indicator for many reasons.
Thanks
TEAMTRADER
Loud and clear! Good catch TEAMTRADER.

This is the best RSI I've seen. Thanks to your ideas and Mrtools's coding, it's one hell of an indicator now :problem:

PS: Hoping this RSI can get you some new golf clubs soon :razz:
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TEAMTRADER
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Re: RSI Indicators for MT4

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TEAMTRADER wrote: Thu Oct 29, 2020 1:06 am The black arrows are a CCI arrow and not on the RSx indicator.
It is included as part of that template along with other on chart indicators.
TEAMTRADER
Sorry to be such a dumbass - I am not talking about any arrows but about the black spots (see black spots in gray boxes)
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Re: RSI Indicators for MT4

1458
josi wrote: Thu Oct 29, 2020 1:25 am
Sorry to be such a dumbass - I am not talking about any arrows but about the black spots (see black spots in gray boxes)
It is where the indicator 'changes its mind'. The change from one direction to another but at the last few seconds it re-changes back. The change in colour signifies these areas.
TEAMTRADER
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Re: RSI Indicators for MT4

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TEAMTRADER wrote: Thu Oct 29, 2020 12:08 am As if anyone needs reminding of how good this indicator is...
TEAMTRADER
I compared the signals of the rsima to 2 Stoch.
It doesn't as far as I can see do any better - one could even argue it does - at times - a bit worse.
But that can be tweaked, of course.
Just saying...
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Re: RSI Indicators for MT4

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josi wrote: Thu Oct 29, 2020 7:02 pm
I compared the signals of the rsima to 2 Stoch.
It doesn't as far as I can see do any better - one could even argue it does - at times - a bit worse.
But that can be tweaked, of course.
Just saying...
I too am a fan of stochs - but it rarely shows the sideways movement of the RSx.
I've put two sets of stochs and two sets of RSx on the Dax this morning to illustrate with the yellow zone the sideways area.
Stochs is a great indicator and I agree in a lot of cases it is as good.
TEAMTRADER
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