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Rating:

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Published:

2014.03.14 13:05

Updated:

2016.11.22 07:32

rsifilter.mq5 (6.39 KB) view

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Real author:

Forex-TSD.com

The indicator changes color of bars in a separate window. It is changed 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 painted in light gray.

Figure 1. The RSIFilter indicator

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/2125

Background_Candles_Smoothed_HTF

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

Background_Heiken_Ashi_Сandle_HTF

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

BackgroundСandle_BrainTrend1_HTF

The indicator draws rectangle candlesticks of a higher timeframe based on the values of the BrainTrend1 indicator.

BackgroundСandle_BrainTrend2_HTF

The indicator draws rectangle candlesticks of a higher timeframe based on the values of the BrainTrend2 indicator.

RSIFilter - indicator for MetaTrader 5