RSI-based trend-showing indicator
Stochastic for example (this small thread)
MetaTrader Trading Platform Screenshots
MetaQuotes Software Corp., MetaTrader 5, Demo
not simultanious
As to RSI-based indicators so you can use search function for - this link, for example -
- Trend Strength - Jurik smoothed RSI - indicator for MetaTrader 5
- Trend Envelopes - RSI - indicator for MetaTrader 5
- and more here
Thanks @Sergey Golubev. I'm not a fan of stochastic, but Envelopes thing and other stuff looks very interesting. I'll definitely have a deeper look.
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A lot can be read from RSI. Even trend. When trend is strong, RSI keeps beyond overbought/oversold areas or at least near them. Sometimes reaching lower for a dip. But when the trend gets exhausted, RSI moves significantly to the other side.
Is there any indicator using this logic to show direction of the trend?