Indicators: mslmsh - Market structure low/high

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mslmsh - Market structure low/high:

This indicator looks at local high/lows. It connects the points and finds where a local high and low appears many times. Depending on how many times a local high/low appears, it draws colored lines into the chart.

Author: Thomas Quester

 

nice indicator....

how to make it in RSI 14?

and create the line for support/resistnace in RSI 14?

 
HajarWae:

nice indicator....

how to make it in RSI 14?

and create the line for support/resistnace in RSI 14?


The relative strength is a different thing it does not have resistances. Local highs and local lows are used to find break outs of a trend, the RSI is to find a trend but it will triger only if a trend is already going. The break out strategy is used to start trading before the trend establishes.

mslmsh is good to be combined with bollionger bands, if there is a local high or low outside of the bands it is likley to bounce.

(I did not count if this is relevant and happens often, so some time will write an ea to back test this.

 
ok tflores, many thanks for your explanation. it just my ideas to make RSI as breakout indicator within the line that placed on high or low RSI Value like your form for local low/high. actualy i've been used this methode and it's very usefull technique, but i've problem to make it in mq4 language. so, if you have pleasure time, i'm very glad for your help. thank you &good luck...
 
 
something like http://www.doshur.com/forex/dsr.asp
 
doshur:
something like http://www.doshur.com/forex/dsr.asp


I think their is some real promise with this. Thanks for sharing.

When I look back in time looking for profitable patterns, the screen gets overloaded with yellow, red, orange and blue horizontal lines.

How can I get rid of these?

 

It repaints.

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