The trend indicator using an oscillator algorithm drawn in the form of a colored cloud with additional indication.
The color histogram defines trend by finding the border of the colored cloud beyond levels:
input uint MainTrendLong=60; // Upper trigger level input uint MainTrendShort=40; // Lower trigger level
When the colored cloud extends beyond the boundaries of levels:
input uint BuyTrigger=80; // Buy level input uint SellTrigger=20; // Sell level
Colored dots appear in the moments when the direction of the fast envelope line of the cloud is opposite to the breakthrough level. For example, if the fast envelope line is above Buy and is falling, a pink dot appears.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.
Originally this indicator has been written in MQL4 and was first published in the Code Base on 11.03.2008.
MT5 Indicator – Download Instructions
RSIOMA V2 is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
RSIOMA V2 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 RSIOMA V2.mq5?
- Download RSIOMA V2.mq5
- Copy RSIOMA V2.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 RSIOMA V2.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator RSIOMA V2.mq5 is available on your Chart
How to remove RSIOMA V2.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: