The MACD histogram drawn on the basis of the RSI smoothed oscillator. Red line is the signal line of the histogram, green is the RSI oscillator drawn on the Moving Average values.
This indicator was first implemented in MQL4 and published in Code Base at mql4.com on 18.06.2008..
MT5 Indicator – Download Instructions
MACDonRSI is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
MACDonRSI 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 MACDonRSI.mq5?
- Download MACDonRSI.mq5
- Copy MACDonRSI.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 MACDonRSI.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator MACDonRSI.mq5 is available on your Chart
How to remove MACDonRSI.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: