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Published:

2014.03.14 12:25

Updated:

2016.11.22 07:32

rsi_bars.mq5 (6.49 KB) view

Download as ZIP, How to download code from MetaEditor

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The indicator changes the bar color to the color of the current trend calculated based on the RSI technical indicator.

If the trend and candlestick direction match, the color of the bar is light, if opposite, the bar is dark.

Trend strength is determined by the presence of the RSI indicator in overbought or oversold areas whose levels are determined by the indicator input parameters:

input uint   HighLevel=55;   // Overbought level
input uint   LowLevel=45;    // Oversold level

If the RSI is outside these areas, the bar is not painted.

Figure 1. The RSI_BARS indicator

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/2122

Heiken_Ashi_BARS

The indicator uses analysis of values of Heiken Ashi Open and Heiken Ashi Close.

TTM-Trend

The indicator uses analysis of values of Heiken Ashi Open and Heiken Ashi Close for a selected period.

Background_Heiken_Ashi_Сandle_HTF

The indicator draws Heiken Ashi candlesticks of a higher timeframe as color filled rectangles using DRAW_FILLING buffers.

Background_Candles_Smoothed_HTF

The indicator draws averaged candlesticks of a higher timeframe as color filled rectangles using DRAW_FILLING buffers.

RSI_BARS - indicator for MetaTrader 5