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RSI Candles - indicator for MetaTrader 5

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votes: 6
2018.06.13 13:29

One possible way of normalizing prices into a known bound.

This is a RSI of High, Low, Open and Close displayed as color candles in it's own sub-window. The interesting is that the prices are reflected in a very close manner to a known 0 to 100 range and that opens a lot of new possibilities.

Trend Envelopes - RSI Trend Envelopes - RSI

Trend Envelopes variation of RSI indicator.

Trend Envelopes Trend Envelopes

Trend Envelopes indicator is using only % deviation for calculation and that is the only parameter needed for calculation. It is internally using Close, High and Low price and in this version that can not be changed. Also, due to the nature of the indicator, it can be easily be used as a sort of support/resistance indicator.

RSI Candles - Smoothed RSI Candles - Smoothed

Combination of 4 RSI values (RSI of High, Low, Open and Close) displayed as candles with additional option to enable prices pre-smoothing prior to be used in calculation, which makes it an RSI-of-MA combination.

CCI Candles CCI Candles

Four different CCIs combined into a "candles" display of CCI.