Rsi Dashboard MTF MT5
- Indicators
-
Evgenii Sutulov
Premium components
1. https://www.mql5.com/en/market/product/201632 - Rotation Manager Console - Version: 1.3
The RSI signal that professionals actually take: not the crossing of a level, but the exit from the zone. RSI Dashboard MTF fires a buy when the RSI leaves oversold upward and a sell when it leaves overbought downward, grades the signal by whether it started from the deeper level, and draws the RSI, its moving average and the distance between them. Any higher timeframe on any chart, closed senior bars only. It is free: no trial, no locked features, no upgrade page.
Wilder's smoothing is applied separately to the gains and to the losses, and the index is one hundred minus one hundred over one plus their ratio. It is written exactly that way rather than through the algebraically equal form, because in double precision the two forms differ in the last digit. The second line is a moving average of the RSI itself, as in TradingView's own indicator.
The signal is the exit from a zone: the RSI crossing the thirty line upward is a buy and crossing the seventy line downward is a sell, which is the canonical reading and not a crossing of the moving average. The twenty and eighty levels only grade: a signal whose previous bar stood beyond them is graded two. Nothing is filtered away.
What is on the chart
In its own sub window: the RSI and its moving average as two lines, and the distance between them as a histogram, coloured by whether it is expanding or fading. Divergence lines are drawn on the RSI and, if you want them, between the matching pivots on the price chart as well.
The panel
A canvas panel on the price chart, draggable, collapsible, closeable. It shows the timeframe in force and the setting values actually being used. It says what the last closed bar was: a BUY signal, a SELL signal, or neither. And it says whether the numbers on screen came from the properties dialog or from the panel, and how many of them were changed by hand.
Below that sit the settings the panel can move, with their current values. The gear opens a three-tab sheet.
Values covers the timeframe, the RSI length of fourteen, the moving average length of fourteen, which is TradingView's own default, the four levels at eighty, seventy, thirty and twenty, and the three divergence rows. Styles covers the palette, the RSI and its average, the line width, and the histogram. Every Values row has steppers, a range and a sentence of help.
The Alerts tab covers the master switch, the per event switches, the channels, the cooldown in minutes and a test alert.
Three colour schemes: dark, light, and a colour-blind safe one that uses blue and orange rather than red and green. Everything about the panel, including every value changed on the sheet, is stored per chart and survives a timeframe change and a terminal restart. The interface is English.
Alerts
Off out of the box. Six events: a BUY signal, a SELL signal, a bullish divergence, a bearish divergence, the RSI crossing above the fifty line, and the RSI crossing below it. Each has a switch of its own.
Channels: a popup window, a sound, a push to the mobile terminal and e-mail. There are per-event and per-channel switches, and a cooldown that defaults to two hours.
Alerts fire on the last closed bar. Two further alerts, off by default, speak on the forming bar within a chosen number of seconds of its close, and they are labelled early because a flip that exists mid-bar can un-happen. Telegram is not part of this product.
Multi-timeframe
The Timeframe setting computes on a higher timeframe and draws the result here. Only closed senior bars are read: a chart bar shows the newest senior bar that had already closed by that chart bar's own close, so the flip lands on the bar that closes together with the senior bar, and nothing is drawn that could not have been known in real time.
The foreign series is built in the background. The first read of it can come back empty, the indicator retries, and the panel says whether it is waiting for a download or looking at a genuine shortage of history. It never fails initialisation over missing bars.
Reading it from an EA
Nine buffers, all readable through iCustom and CopyBuffer. Buffer 0 is the RSI and buffer 1 is its moving average, the second line TradingView's own RSI draws. Buffer 2 is the distance between the RSI and its moving average, drawn as a histogram, and buffer 3 is the colour index that paints it. Buffer 4, Signal, is +1 on a BUY bar, -1 on a SELL bar and 0 otherwise. Buffer 5 is the grade of that signal. Buffer 6 carries the divergence marks, +1 bullish and -1 bearish. Buffer 7 is the zero line and buffer 8 is Override.
This product has no separate Buy and Sell price buffers, because there is no price to put an arrow at in a sub window. The signal is buffer 4 and it is the contract: filled on every pass whatever the Styles tab says, and present in the Data Window. Hiding a plot is done by taking its colour away and never by emptying a buffer, so every index above stays readable with the display switches off.
An instance created by iCustom is read only and always uses the parameters you passed. The Override buffer lets a strategy detect that a chart instance is running on numbers changed by hand from the panel.
Provenance
This is a port of Welles Wilder's RSI, public since nineteen seventy eight and built into TradingView, presented here as a multi timeframe dashboard. Two deviations are declared, both about the warm up: Pine seeds its recursion with a mean over the length and returns nothing before that, where both recursions here start from zero on the first bar; and where gains and losses are both still zero on a flat start Pine's formula would give one hundred, the extreme overbought reading, on a market that has not moved, so such a bar is given fifty here.
The product is called RSI Dashboard MTF because that is the name of the method, not because authorship of the method is claimed here. The original work belongs to its author.
Honest limits
The oscillator is live on the forming bar. A cross that exists mid-bar can be absent at the close, and the panel line and the grade go with it. Closed bars do not change.
An exit from a zone is late by construction. The RSI has already been extreme and has already begun to come back, and that is the trade the method describes.
In a strong trend the RSI can sit in one zone for a long time and leave it many times without the trend ending. Every one of those exits is published, because filtering them would hide what the RSI did.
The grade says how deep the RSI had gone before it left the zone. It is a description of the reading, not a probability, and a grade two signal is not a better trade by construction.
The settings move every signal the product will ever show. Two configurations produce two different sets of signals, and neither of them is the true one.
No profit figure, win rate or backtest result is claimed here.
