Technical Indicators for MetaTrader 5

RSI Trend Direction

rsi-trend-direction-logo-200x200-2636
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Information

Indicators
MetaTrader 5
10
Kavram Demircan
15 May 2019
3.0
18 June 2019

Overview

This indicator using the Current Value of the Relative Strength Index(RSI) to Identify Trend Direction.

If The "Difference" Value at the Right Bottom Corner Greater than 0, this means there is an UpTrend.

If the "Difference" Value at the Right Bottom Corner Smaller than 0, this means there is a DownTrend.

And Also:

Blue Line on the Line Chart Represents Seller's Power.

Red Line on the Line Chart Represents Buyer's Power.

Parameters:

  1. Period RSI: RSI period for the calculation. Default: 14
  2. Average for Chart: Number of Past Candles for the Calculation. Default: 3
  3. Average for Ticks: Number of Past Ticks for the Calculation. Default: 3
  4. Maximum Bars: Number of Bars to Draw Line Chart. Default: 200
  5. Price Type: Type of RSI Calculation. Default: Close Price
  6. Difference Color: Color of the "Difference" text. Default: Orange
  7. Up Color: Color of the "Up" text. Default: Red
  8. Down Color: Color of the "Down" text. Default: Blue
  9. Shift From Right Border: Percentage for the distance from right corner. Default: 15
  10. Decimal Nums: Number of the decimal points for "Difference" , "Up" and "Down" values. Default: 2
  11. Use Ticks Calculation: On/Off Switch for Tick Calculation. Default: False
  12. Print RSI Values by Ticks: On/Off Switch for Printing RSI Values. Default: False


To change from "Close Price" Calculation to "Every Tick" Calculation, Please Change the "Use Ticks Calculation" Option to "True"

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