Delta RS I
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Delta RS I
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.
Description & Settings
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Trend analyzer based on the difference of two RSI oscillators with different periods.
The indicator will be useful for those who analyze two RSI indicators with different periods (fast and slow), their relative positions, as well as the location of the slow RSI relative to the specified level (for example, 50).
That is, if the slow RSI is greater than 50, and the fast RSI is greater than the slow RSI — paint the histogram in overbought color.
If the slow RSI is less than 50, and the fast RSI is less than the slow RSI — paint the histogram in oversold color.
Al settings can be customized: colors, signal level (50), periods of the slow and fast RSI, histogram display type.
The indicator has 5 buffers that can be used at your discretion.
0 — Indicator buffer;
1 — color indicator buffer with three color states;
2 — RSI fast;
3 — RSI slow;
4 — Difference between two RSI (MACDRSI).
Originally this indicator has been written in MQL4 and was first published in the on 27.09.2016.
Fig1. Full histogram of the Delta_RSI indicator
Fig.2. Shortened histogram of the Delta_RSI indicator
