Before applying this preset ,make sure you have enough historical data in particular timeframe and symbol.My preset have 10000 bars in Lookback period,so you should have 10000 bars in any timeframe & symbol.

Hi Pankaj,

I have just purchased the indicator

It looks like a great indicator but I am struggling a little bit trying to figure out how best to use it in my trading

Any suggestions, youtube videos or pdf documents would be greatly welcome

Also, I am not sure how to incorporate your set file into my MT5

Could you please help?

Thanks a lot

Samit

Hi Samit,

Thank you for supporting Rsi Decoder Idea.

Primary goal of rsi decoder is to decrypt the relationship between RSI and Future underlying asset(eg.EURUSD etc).

As for setting is considered depending on user requirements.

              *Some are price action traders who need to know the nearest future price probabailities so in this case we should consider rsi_period 5 and forecast period 1 or 2.(TimeFrame greater than H1 is prefered)

              *Some are long term traders,they can prefer using rsi_period 14 which is default and forecast period 5-10.(TimeFrame greater than M15 is prefered)

rsi_ma_period need to be symmetrical with rsi_period.(14 rsi_period should have 7 or 14 or 28 rsi_ma_period)

Alert_Probability have to be altered based on hindsight analysis (prior rsi and future price movements).

Parameter Relationship:

*when rsi_period is 5 (smaller value) we get more number of profile_detected because it spreads allover the range 0-100 levels.so,rsi_period is inversely proportionalto profile_detected.

*Lookback_period is directly proportional to profile_detected.

*max_allowed is directly proportionalto profile_detected.