RSI Trend Indicator
Info
The RSI Trend Indicator is a Indicator for MetaTrader 5 that a straightforward trend indicator designed to function similarly to a zigzag, operating based on changes in the relative strength index (rsi). The trend line is drawn when the RSI moves down from 65 or up from 35.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
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 RSI Trend Indicator
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
A straightforward trend indicator designed to function similarly to a zigzag, operating based on changes in the Relative Strength Index (RSI).
Typical Use Case
This Indicator excels in trend following 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: ADX Auto Range: Automated Trend Strength and Consolidation Detection - another powerful indicator for MetaTrader 5 traders.
A straightforward trend indicator designed to function similarly to a zigzag, operating based on changes in the Relative Strength Index (RSI).Also recommended: Line Master: Advanced Trend Lines with Change Signals - similar indicator with strong performance on MetaTrader 5.
The trend line is drawn when the RSI moves down from 65 or up from 35.These change thresholds are configurable parameters that users can adjust.
Each point on the trend line connects to the subsequent point where an RSI change occurs.
Uptrend points are marked at price highs, while downtrend points are marked at price lows.
Uptrend lines are displayed in blue, and downtrend lines are shown in red on the main chart window.
RSI Trend Indicator (65, 35)
You may also like: Trend Buy/Sell Zones with Automated Lot Sizing and Risk Panel for MT5 - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property version "1.00"
#property indicator_chart_window
#property indicator_buffers 3
#property indicator_plots 1
#property indicator_color1 blue, red
#property indicator_width1 2
input int inpupperrsi = 65; // upper limit of rsi changes
input int inplowerrsi = 35; // lower limit of rsi changes.......
⚠ 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.