Display posts from previous
Sort by

Re: RSI Indicators for MT4

1762 by mrtools
polygone wrote: Mon Dec 06, 2021 4:30 pm Dear MrTools, thank you so much for sharing so many of your indicator. It has help me tremendously in my trading algo development, albeit manual algo trading, with my zero coding capabilities.

If you dont mind, is it possible to add automatic mark, whenever the MyRSI line and NET line, each has opposite value ? example is My RSI has negative value and NET has positive value, and vice versa. This marking will help me so much in identifying no trade zone

From my backtest, i notice whenever that situation happens, it is better not to open any position. And My RSI > 0 and > NET are bias to increasing price up momentum, vice versa. While MyRSI >0 but < NET are lower up momentum, vice versa.

Thank you very much for your work and time. Your help is very appreciated Sir.
Would need more explanaton please.
Shalom Shalom! :hug:

Re: RSI Indicators for MT4

1763 by polygone
Thank you for your time and reply Sir,
what i mean is can you add a marking on the MyRSI chart/price chart whenever MyRSI cross the above 0 line, but NET stays below 0 line, or vice versa, at candle close.
From my back test using my indicator during that time, its best NOT to open position, making it the no trade zone, in my manual trading algo. Usually the candle after that zone is the best entry, in my algo.

Here is screenshot for reference, I manually add the magenta vertical line as a marking of those area.
Image

Thank you very much Sir

Re: RSI Indicators for MT4

1764 by merkavt
mrtools wrote: Fri Jul 23, 2021 7:34 am Reminded me to try and update this indicator, think this version is pretty close, except for the bands was never sure if the vkw bands were calculating right so I used the floating level bands and added smoothing to them.
Image
Hi Mr Tools,
Please could you add Alerts with option for arrows.
Thank you in advance. M.K.


Post Reply Attachments 4175

Return to “MT4 Indicators”