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Tarzan
Info
The Tarzan is a Indicator for MetaTrader 5 that oscillator tarzan is a standard rsi with a channel having a central line, the color of which changes depending on the rsi line location as related to the channel:if the rsi line enters the channel upwards, an "up" signal arrow is placed, and the central line is colored green if the rsi line enters the channel downwards, a "down" signal arrow is placed, and the central line is colored red if the rsi line is within the overbought/oversold zones (above/below the channel borders), the central line is colored pale gray. If the RSI line is in the upper zone within the channel, the line is sky blue, if the line is in the lower zone of the channel, the line is orange.
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 Tarzan
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
Oscillator Tarzan is a standard RSI with a channel having a central line, the color of which changes depending on the RSI line location as related to the channel:If the RSI line enters the channel upwards, an "up" signal arrow is placed, and the central line is colored green If the RSI line enters the channel downwards, a "down" signal arrow is placed, and the central line is colored red If the RSI line is within the overbought/oversold zones (above/below the channel borders), the central line is colored pale gray.
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: Parkinson Hist Volatility - another powerful indicator for MetaTrader 5 traders.
Oscillator Tarzan is a standard RSI with a channel having a central line, the color of which changes depending on the RSI line location as related to the channel:
Also recommended: Dynamic Trader Oscillator - similar indicator with strong performance on MetaTrader 5.
If the RSI line enters the channel upwards, an "up" signal arrow is placed, and the central line is colored green
If the RSI line enters the channel downwards, a "down" signal arrow is placed, and the central line is colored red
If the RSI line is within the overbought/oversold zones (above/below the channel borders), the central line is colored pale gray.
If the RSI line is in the upper zone within the channel, the line is sky blue,
if the line is in the lower zone of the channel, the line is orange.
The central line of the channel is calculated by the RSI line smoothing method, and the indent for the upper and lower channel borders is added/deducted on both sides.
The indicator has six input parameters:
RSI period
- RSI calculation period
RSI Applied price
- RSI calculation price
MA period
- channel calculation period (the RSI line smoothing period)
MA Method
- channel calculation method
Channel top size
- indent from the central line for calculating the upper border of the channel
Channel bottom size
- indent from the central line for calculating the lower border of the channel
You may also like: Price Volume Divergence - excellent alternative for indicator users on MetaTrader 5.
⚠ 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.