Dynamic RSI Pointer MT5
Dynamic RSI Pointer
by Pointer Productions
The best traders are the ones who use the best tools while trading and combine these tools with their own knowledge of the market. These traders are the ones who know how to read not only the trends of the market, but also the opportunities that are available once a trend has been established.
This is why we are making our new indicator available.
Dynamic RSI Pointer
Our Dynamic RSI Pointer is an indicator designed to profit from existing trends and predict future trends based on current and past trends.
Dynamic RSI Pointer is a revolutionary indicator primarily based on the well-known RSI indicator. However, the RSI indicator is restricted by the static oversold and overbought levels set by the user, which in essence make it inefficient in this role when applied to a dynamic market such as Forex. Depending on the existing trend, whether its an up, down or sideways trend, we should be using different levels that adapt to the current trend of the market.
This is where our product excels because Dynamic RSI Pointer:
- Is an indicator that can adapt and set dynamic oversold and overbought levels in order to maximize profitability for the user.
- By recognizing past trends and evaluating them, Dynamic RSI Pointer is able to predict approaching trends with great accuracy and set the levels accordingly.
How Dynamic RSI Pointer Works:
Dynamic RSI Pointer is simple to use because it has an interface similar to RSI indicator. However, while RSI indicator levels are static, Dynamic RSI Pointer ones are dynamic. With the Dynamic RSI Pointer, you can use any strategy designed to work with RSI indicator, such as:
- Trading when the main line is returning from overbought and oversold levels
- Looking for divergences in overbought and oversold levels
- Combining RSI with other signals showing that a trend is about to reverse.
Only now the overbought and oversold levels are dynamically adjusted to the current trend.
Analyzing dynamic overbought and oversold levels can provide essential information. Once the user notices that the levels are changing rapidly, it means that the currency is experiencing a volatile trend.
You can either use it to trade with that trend or wait out such a trend until it has lost its power and trade when signals of the trend have reversed.
When users first apply Dynamic RSI Pointer, they are presented with the set of inputs:
- RSI Period – the number of periods used to calculate the main line.
- LEVELS Period – the number of periods used to calculate the oversold and overbought levels.
- LEVELS Size – determine how restrictive the oversold and overbought levels are.
- A smaller value means that oversold and overbought levels are more restrictive. The values less than 5 provide only extreme overbought and oversold signals.
- A larger value means that oversold and overbought levels are less restrictive.
- These values should be set between 0 and 50.
The MetaTrader 4 Version can be found here: https://www.mql5.com/en/market/product/7716