I just dowload the 4TF RSI
but it took some time to fix the color before achieving this
hope that it would not repaint
the idea to BUY would be -- after a cloud of orange-chocolate color in middle
the lower row will turn blue , then BUY
I have to try it first, before I say thanks -- this is 1Hr TF-- does not work well in lower TF chosen, only one hour
hope that it would not repaint ...
As its name is saying it is a multi time frame indicator : it will update the state of all bars belonging to the target time frame. It is a normal multi time frame behaviour that has been discussed a long time ago.
ther are one is
Can someone help me and create an RSI EA
I want a simple RSI EA. Sell when it goes below 30 and buy when it goes above 70. The buy/sell should open on the following candle when the cross happens. The RSI period is 14 and the only inputs are take profit and stop loss. Can someone please help me and create that EA?
It shows states / slopes of 4 time frame rsi. Depending on the ColorsForSlope parameter it will show slope of the rsi (like lower one on the example picture) or the current relative value compared to RsiLevelUp (overbought) and RsiLevelDown (oversold) in which case a third state (in between those 2 values) is indicated by the lack of color. That way one can (by combining 2 instances of this indicator) monitor most of the information of 4 time frame rsis (just set the UniqueID parameter to unque values for each instance attached to the same chart).
Here is an example with ColorsForSlope set to false (upper) and ColorsForSlope set to true (lower) for same time frames monitored :
I don't think the periods change- when I tried different periods it didn't change any colors- also I would like to be able to change the width of each line- it kept switching back to just one size.
also to solve the confusion of higher tf repainting how about put a yellow circle around where they really change- it could be very helpful.
Everything is OK with RSI calculation. In short, it is RSI It does not change the direction of the slope when calculating period is changed, just the peak values reached (in short, shorter rsi period widens it vertically, but it does not change the points where slope direction changes) Changing periods has sense if you are looking for level breaks (ColorsForSlope set to false) in which case you will see immediate changes with period changes
As a continuation of last post :
For that reason (slope direction of a rsi can not be used in a regular rsi as a criteria) people were trying to find smoother rsi. One way it is done is what Mark Jurik has invented in the rsx. Rsx is in fact a smoother rsi (not a "smoothed rsi" since it does not take an rsi and smooths it out, but a smoother rsi - different calculation to get smoother rsi values). There are some other ways too but in this post posting a 4 time frame rsx in which the slope of the rsx does have a meaning that is expected (unlike the rsi)
See the comparison of 2 instances : upper is with period 14 and lower is with period 25 (rsx of course:))
I am fairly sure this was the culprit, any ideas?
- I had overlayed it on the T3 Trendstrength and saved it as a tpl -
when I put it on gbp/usd it crashed and then froze me out of my platform- or at least that is how it seems- though the second platform installation allowed me to restart instead of keeping me frozen out when I experimentally tried it again after deleting another couple indies I thought responsible- but when I took it off it allowed the tpl no problem- so... maybe just don't put it on top of other indies?
Works just fine on GBPUSD too (for test sake downloaded it from the post directly and attached it to a chart. Here is what does it look on my PC, it didn't cause me any problems at all)
works fine on my intel mac w/wineskin...