rs i signal
Info
The rs i signal is a Indicator for MetaTrader 4 that features displays 3 rsi lines of different periods and the ma of the first rsi line (smoothed rsi). displays the ma of the smoothed rsi.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use rs i signal
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
features displays 3 rsi lines of different periods and the ma of the first rsi line (smoothed rsi).
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: williams b indicator: a multidimensional approach to trading signals - another powerful indicator for MetaTrader 4 traders.
featuresAlso recommended: awesome signal - enhanced trading indicator - similar indicator with strong performance on MetaTrader 4.
displays 3 rsi lines of different periods and the ma of the first rsi line (smoothed rsi).
displays the ma of the smoothed rsi. the crosses of smoothed rsi and its ma can be used as the signals.
displays histogram for rsi or its moving average.
colored level lines.
two color ma lines.
four color histogram.
color filling between overbought and oversell levels (background).
users can turn off/on most of the features mentioned above. about rsi value of this indicator
the rsi value of this indicator = original rsi value - 50
the overbought/oversell level = original overbought/oversell level - 50
this is to make rsi changes around 0 (not 50), which is convenient to draw histograms.
users enter original overbought/oversell levels (70/30, or any other values), this indicator will change (subtract 50) automatically.
parameters
rsi 1 period
- period of rsi #1. if input is less than 2 or larger than 100, indicator will use default (14) instead.
rsi 2 period
- period of rsi #2. if input is less than 2 or larger than 100, indicator will use default (21) instead.
rsi 3 period
- period of rsi #3. if input is less than 2 or larger than 100, indicator will use default (7) instead.
price apply to
- rsi price apply to
overbought level
- overbought level (70, or any other levels you need)
oversell level
- oversell level (30, or any other levels you need)
smooth period
- enter the ma period for smoothing rsi #1
smooth method
- choose ma method for smoothing rsi #1
ma period
- period of second ma (ma of smoothed rsi #1)
ma method
- method of second ma
enable rsi 1 line
- turn on/off rsi #1 line
enable rsi 2 line
- turn on/off rsi #2 line
enable rsi 3 line
- turn on/off rsi #3 line
enable smoothed rsi 1
- turn on/off smoothed rsi #1 line
enable ma of smoothed rsi 1
- turn on/off second ma (the ma of smoothed rsi #1)
choose how to draw histogram
- three options to draw histograms:
draw histogram for rsi 1:
draw histogram for smoothed rsi 1
disable histogram
choose how to change histogram color
- two options about how the histogram colors change:
as per smoothed rsi #1 direction
as per rsi #1 and smoothed rsi #1
option 2 means: when rsi #1 crosses above the smoothed rsi, histogram will be green, which indicates a possible uptrend; when it crosses down smoothed rsi, histogram color will be red, which indicates a possible downtrend.
enable background
- if this option is enabled, indicator will draw histograms between overbought level and oversell level, as the background of "normal area".
background for whole indicator window
- if this option is enabled, the background histograms will be drawn from the top to bottom of the whole indicator window. this is available only if "enable background" option is turned on. note
the default color settings are fit for "green and black" theme in metatrader 4, if you use "black and white" scheme, please change the colors to make it clear in white background.
You may also like: signal direction probability indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.