Relative Strength Index with the market flat state detection option.
If the market is flat, the colored indicator cloud shrinks and is located at the value of 50, and a thick blue line appears. The criterion for determining this state is a shrunk Bollinger. The critical Bollinger shrink value is fixed by a half of its bandwidth and defined in the indicator input:
input uint flat=100; // flat value in points
MT5 Indicator – Download Instructions
RSIWithFlat is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
RSIWithFlat 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 RSIWithFlat.mq5?
- Download RSIWithFlat.mq5
- Copy RSIWithFlat.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 RSIWithFlat.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator RSIWithFlat.mq5 is available on your Chart
How to remove RSIWithFlat.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: