forex indicator RSIOMA
RSIOMA MetaTrader Indicator - This indicator takes two moving averages, and counts them RSI (Relative Strength Index), and then adds the calculated moving average of RSI. These two lines are now able to accurately signal a trend change. They are shown in a separate window graphics and vary from 0 to 100. In addition, a histogram is displayed beneath the lines to quickly analyze the situation.
- RSIOMA (default = 14) - between the RSI and moving averages on the basis of which it is calculated. Increase to mitigate, reduce the signal to become more frequent.
- RSIOMA_MODE (default = MODE_EMA) - mode moving averages used for RSI.
- RSIOMA_PRICE (default = PRICE_CLOSE) - price levels to calculate moving averages, which will be used for RSI.
- Ma_RSIOMA (default = 21) - period moving average of RSI.
- Ma_RSIOMA_MODE (default = MODE_EMA) - mode moving average of RSI.
- Other Options - change the color settings and the key (shown) the levels line. Do not modify.
Figure thick blue line - it's RSI moving average, a thin purple line - is its moving average. RSI above the moving average and RSI above 50 - a bullish signal. RSI below the moving average and RSI under 50 level - a signal of a bearish trend. You can also buy when the RSI level 20 will strike the bottom and sell when the RSI level of 80 strikes from the top, but this is weak signals. The histogram allows you to quickly assess all of the current situation. Green bars buy signal and red - for sale, purple - overbought, blue - oversold.RSIOMA_v2.mq4