A combined indicator, built on the basis of two RSI oscillators.
This indicator calculates the value of the RSI indicator with the RSIPeriodOriginal period and the value of RSI with the RSIPeriodRotated period. Then it turns RSIPeriodRotated 180 degrees relative to the level of 50 points (100-RSI). Finds the difference between the original value of the first indicator and the inverted value of the second one. Then it calculates the derivative of this difference.
The colored cloud is formed from two RSI indicators.
A gray histogram is the difference between the original value and the inverted value.
An orange line is a derivative of the histogram (the rate of change of the difference between the original value and the inverted value).
MT5 Indicator – Download Instructions
RSIImproved is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
RSIImproved 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 RSIImproved.mq5?
- Download RSIImproved.mq5
- Copy RSIImproved.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 RSIImproved.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator RSIImproved.mq5 is available on your Chart
How to remove RSIImproved.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: