These two lines now can accurately signal the trend changes. They are shown in the separate window free forex indicator websites download they change from 0 to 100. Additional histogram indicator is shown for quick reference below the lines. The indicator is available for both MT4 and MT5.
RSI and the moving averages that are used to calculate the RSI. Increase for smoothness, decrease for signal frequency. On the picture the bold blue line is RSI of the moving averages, the thin violet line is its moving average. RSI above MA and RSI above level 50 is a signal of a bullish trend. RSI below MA and RSI below level 50 is a signal of a bearish trend. One can also buy when the RSI breaks level 20 from below and sell when RSI breaks level 80 from above, but those are weaker signals. Green lines signal BUY, red signal SELL, magenta mean overbought, blue mean oversold.
Make sure you have either . 5 files of the indicator downloaded. You can’t install an indicator before downloading it. The first choice is preferable as it will help you to keep the indicators organized. Or you can manually compile it. 5 file and the MQL5 Editor window will open.
Now you can enjoy your new MT5 indicator and, hopefully, better Forex trading results. This indicator can be attached to M5, M15 and M30 charts and will show the Market Profile for the daily sessions. Close and Open difference, and as difference between current Close and previous Close. Although M5 timeframe offers higher precision, M30 timeframe is recommended due to its better visibility. Three different color schemes are available to draw the profile’s blocks. For example, if you set it 2010. The chart screenshot shows Market Profiles calculated and displayed for two daily Forex trading sessions.