Twin Currency RSI
The indicator displays two RSI lines of different Symbols and a histogram of the difference between them modulo. Symbols names are set in the settings:
- First Symbol
- Second Symbol
Next, you can enable mirroring for the RSI line of the second Symbol. This is necessary to control the divergence of RSI lines for symbols with inverse correlation. For example, if you compare the RSI readings of the EURUSD and USDCHF symbols, you need to enable the line mirroring function for the second One.
- Second RSI Mirroring
The last setting specifies the averaging period for the index calculation. The calculation of the RSI is at Close prices.
- RSI Period
P.S. The RSI divergence indicator can be used in pair trading of Symbols with a high correlation coefficient.