The classic RSI with the colored signal levels. To the moments of time, when the RSI indicator is in oversold and overbought zones, there are change of the indicator color corresponding to the trend direction. The growing trend colors the indicator in lettuce green, the falling into the red one.
This indicator was first implemented in MQL4 and published in Code Base at mql4.com on 17.03.2009.
MT5 Indicator – Download Instructions
ColorRSI is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
ColorRSI provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install ColorRSI.mq5?
- Download ColorRSI.mq5
- Copy ColorRSI.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on ColorRSI.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator ColorRSI.mq5 is available on your Chart
How to remove ColorRSI.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: