RSI is mainly used in combination with levels or with a sort of signal lines. Some prefer the levels some, on the other hand, “signal” line. We could dispute which one is the better, but it probably mainly depends on trading style.
Here is a version that, in some way, combines the two types.
Discontinued signal lines idea is simple: when RSI value is above central value (rsi being 50), then only the upper signal line is calculated, and the lower signal line value is “inherited”. When the value of RSI is below central value then the lower signal line is calculated and the upper signal line is “inherited”. That way we are getting a kind of combination of levels and signal lines without a need to change the value of the RSI itself. As it is obvious it has its better sides compared to both methods (especially avoiding some problems with “trends” when signal lines alone are used). In any case extensive testing is advised.
MT4 Indicators – Download Instructions
IDsl – rsi Hyo2 is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.Subway 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 the software?
- Download the mq4 file from the zip file.
- Copy the mq4 file to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on the mq4 file.
- Attach to a chart
- Modify settings or press ok
- Indicator should be available on your Chart
How to remove tim.mq4 from your Metatrader 4 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
MT4 Indicators Download below: