rs i divergence
Info
The rs i divergence is a Indicator for MetaTrader 5 that rsi divergence draws the rsi indicator line in a separate window and displays found divergences in the indicator window and on the price chart. it has six input parameters:period - calculation periodapplied priceoverbought - overbought leveloversold - oversold levelbullish color- color of bullish signal arrows and linesbearish color- color of bearish signal arrows and linesdivergences are detected only on segments where rsi line is above/below overbought/oversold levels.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use rs i divergence
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
rsi divergence draws the rsi indicator line in a separate window and displays found divergences in the indicator window and on the price chart.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: rsi divergence and higher timeframe (htf) power of 3 (po3) indicator - another powerful indicator for MetaTrader 5 traders.
Also recommended: asq divergence detector - similar indicator with strong performance on MetaTrader 5.
rsi divergence draws the rsi indicator line in a separate window and displays found divergences in the indicator window and on the price chart.it has six input parameters:
period
- calculation period
applied price
overbought
- overbought level
oversold
- oversold level
bullish color
- color of bullish signal arrows and lines
bearish color
- color of bearish signal arrows and lines
divergences are detected only on segments where rsi line is above/below overbought/oversold levels.
You may also like: institutional dxy overlay and correlation divergence indicator - excellent alternative for indicator users on MetaTrader 5.
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.