This MT5 alert system identifies potential buying opportunities using technical indicators and price action patterns.

The buy conditions include:
1. RSI Condition: The RSI for the current period must be below a specified low threshold, indicating an oversold market.
2. Candlestick Pattern:
- The current candle must close higher than it opens (bullish).
- The previous candle must close lower than it opens (bearish).
- The current candle's close must be above the open of the previous candle but below its high.
3. Moving Average Conditions:
- The current candle's close must be below the EMA.
- A longer-term EMA (Shiftpast) must be below a shorter-term EMA (Shiftnow), signaling a potential uptrend.
- Users can adjust the previous shifting of the moving averages, such as setting the EMA shift to 5-6, 3-4, or other numbers.

If all these cond...
#MQL5 #MT5 #RSI #indicator

Read more...

The RSI adaptive EMA custom indicator has been updated to include several types of alert signals triggered by color changes. These enhancements provide multiple notification options to ensure users stay informed of market movements. Sound alerts offer immediate auditory feedback. Email notifications enable users to receive updates directly in their inbox, ensuring they never miss critical changes. Push notifications are designed for those who prefer real-time alerts on mobile devices, facilitating swift reactions. This comprehensive alert system aims to improve user engagement and market awareness by delivering timely and varied notifications.
#MQL5 #MT5 #RSI #Indicator

Read more...

The latest update in Version 2 introduces a 'Time control' feature and removes the 'Profit limit for close all' and 'Withdrawal' parameters. Enhancements include a trailing lot size control, detailed in the RSI Dual Cloud EA code. Trading signals are now verified with the emergence of new bars, analyzing the iAMA (Adaptive Moving Average) and iRSI (Relative Strength Index) indicators.

The process for generating a signal follows two steps. For an "Open Buy" signal:

1. RSI should be below 30, as set in the 'RSI Level Down' parameter.
2. The price needs to surpass the AMA indicator.

To optimize the indicator relationship, the 'Step Length' parameter defines the bar interval between these steps. Regarding the Martingale strategy, upon receiving a trading order, the system checks BUY and SELL positions' profits. For an "Open Buy," if BUY profits are negative,...
#MQL5 #MT5 #RSI #Strategy

Read more...

The subwindow showcases two RSI lines referred to as 'Fast' and 'Slow'. The design incorporates shaded areas extending from the window borders to these lines, both above and below. This visualization includes three rendering modes: Fast, Slow, and an additional mode combining the highest and lowest points for comprehensive analysis. This approach enhances clarity in monitoring relative strength trends, enabling better decision-making by emphasizing significant RSI movements with clear visual distinctions. The indicator's dual-line system offers nuanced insights beyond traditional single-line RSI applications, making it a valuable tool for experienced traders and analysts in assessing market momentum.
#MQL5 #MT5 #Indicator #RSI

Read more...

The RSIOMA MetaTrader indicator is designed for advanced trend analysis. It uses two moving averages to calculate the RSI and then applies a moving average on the RSI itself. Displayed in a separate window, these lines range from 0 to 100 offering precise trend change signals. A histogram accompanies the lines, providing a snapshot of the current trend. It's compatible with both MT4 and MT5 platforms.

Key input parameters include RSIOMA Period (default 14) for signal precision and MA of RSIOMA Period (default 21) for smoothing. Users can adjust RSIOMA Mode and Price settings for custom implementations. Alert options include MainAlerts and AuxiliaryAlerts, with native, email, and push alerts configurable via MetaTrader. Proper alert setup ensures timely notifications for trend reversals or when specific trigger levels, such as BuyTrigger (20) and SellTrigge...
#MQL4 #MT4 #Indicator #RSI

Read more...

The RSIOMA indicator for MetaTrader is an advanced tool that combines two moving averages, calculates their RSI (Relative Strength Index), and overlays a moving average of the RSI. This setup allows for accurate trend change signals shown in a specialized window, ranging from 0 to 100. It includes an auxiliary histogram for a quick view of current trends. Compatible with MT4 and MT5, it offers adjustable input parameters such as RSIOMA Period, Mode, and Price, impacting the smoothness or frequency of signals. Additional features include BuyTrigger and SellTrigger levels, color-coded trend indicators, and alert options. Alerts notify users of significant trend changes, available through popups, emails, and push notifications. Users must configure email and notification settings in MetaTrader accordingly.
#MQL5 #MT5 #Indicator #RSI

Read more...

A function is designed to draw arrows and provide alerts when the RSI indicates overbought or oversold conditions. Specifically, the function triggers when the RSI is below 30, suggesting potential buying opportunities. It also considers scenarios where the price opens above the 8-period moving average, and the lower wick of the candle exceeds the body size. This setup is optimal for identifying possible reversals, offering insights into shifts in the micro trend. It's a valuable tool for traders aiming to detect potential trend changes during extreme market conditions, enhancing decision-making processes in trading strategies.

👉 Read | AlgoBook | Share!

#MQL5 #MT5 #RSI

Introducing a versatile multi-timeframe dashboard scanner for RSI and Stochastic analysis. This tool displays both the main and signal lines of the Stochastic indicator. With integrated input elements directly on the chart, users can conveniently specify the desired RSI period and Stochastic settings. By clicking the update option, users can refresh the indicators to reflect the values set on the chart input efficiently. This ensures accurate and customized technical analysis based on user preferences, providing a streamlined experience for monitoring market conditions across multiple timeframes. The self-contained input functionality simplifies adjustments without leaving the chart interface.

👉 Read | CodeBase | @mql5dev

#MQL4 #MT4 #RSI

Market trends are classified into three primary types: uptrend, downtrend, and sideways. In an uptrend, buyers predominantly control the market, resulting in incrementally higher prices. Conversely, a downtrend sees sellers dominating, pushing prices down to lower highs and lows. Sideways movement indicates a market balance where neither buyers nor sellers have complete control.

Understanding these trends is crucial for effective trading strategies and risk management. The Relative Strength Index (RSI) aids in analyzing market momentum, foreseeing potential movements, and determining points for strategic trade actions.

The RSI strategy involves different approaches based on current market trends, employing an algorithmic trading system facilitated by MetaTrader 5 and MetaQuotes Language Editor. Familiarity with RSI can enhance decision-making effectiveness...

👉 Read | Forum | @mql5dev

#MQL5 #MT5 #RSI

The Adaptive Relative Strength Index (aRSI) calculation involves a few key steps. Start by subtracting 50 from the traditional RSI value, then apply the absolute value function. This outcome is then divided by either 100 or 50, based on settings, to produce the aRSI value, which is expressed in a percentage-like format.

When adjusting bands, the lower band is computed as the current lower band value minus the product of the lower band value and aRSI. Conversely, the upper band is computed as the current upper band plus the product of the upper band value and aRSI.

An optional feature is available to toggle the display of the standard SuperTrend indicator. The overall settings include adjustable parameters for Factor, applicable to both SuperTrend styles, ATR length, and RSI length specifically for the aRSI SuperTrend.

👉 Read | Signals | @mql5dev

#MQL5 #MT5 #RSI