Best MT5 Indicators and Templates with Source Codes

RSI MA Level Signals with Arrows

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ZigZag RSI Candle Indicator

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RSI Slope Divergence MTF Indicator

The RSI Slope Divergence MTF Indicator is an enhanced tool for MetaTrader 5 that identifies divergences using RSI slope across multiple timeframes. It features customizable channel background colors and supports standard MT5 timeframes, along with three additional "special" timeframes: next higher, second higher, and third higher, relative to the current chart. This allows traders to analyze RSI slope divergence across a broader range of timeframes, potentially improving divergence detection and trading decisions.

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Multi-Color Relative Strength Index

A multi-color RSI indicator enhances the standard Relative Strength Index by visually representing overbought and oversold conditions, as well as the RSI's momentum, using different colors. Typically, blue signifies upward momentum or a bullish trend, while red indicates downward momentum or a bearish trend. This color-coding helps traders quickly identify potential buy and sell signals based on the RSI's position relative to defined thresholds (e.g., 70 for overbought, 30 for oversold) and its current trend.

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RSI of Smoother Average Indicator

This indicator calculates the Relative Strength Index using a smoothed average to filter out noise and potentially improve signal accuracy. The smoothing is achieved using a "smoother" algorithm, often referred to as Jurik smoothing, which can be adjusted using the "smoother period" setting. Setting this period to 1 or less disables the smoothing effect, effectively using a standard RSI calculation. Traders can use color changes generated by the indicator as buy or sell signals.

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Color RSI Indicator

This Color RSI indicator enhances the traditional Relative Strength Index by visually highlighting overbought and oversold conditions with color changes, making it easier to identify potential trading signals. It uses green to represent a rising RSI, suggesting upward momentum, and red for a falling RSI, indicating downward momentum, particularly when the RSI enters overbought or oversold zones. This color-coding simplifies the interpretation of the RSI and can aid in making quicker trading decisions.

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On Chart RSI Indicator

The On Chart RSI Indicator allows traders to visualize the Relative Strength Index directly on the price chart, rather than in a separate window, facilitating easier analysis. This indicator employs a highest high/lowest low channel to overlay the RSI, while offering additional features like three coloring modes to enhance usability and interpretation of the RSI in trading decisions.

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RSI Extremum Levels Drawer Indicator

An RSI Extremum Levels Drawer indicator automatically identifies and draws horizontal lines on a chart to highlight potential overbought and oversold levels based on the Relative Strength Index. It typically allows users to customize the RSI period, overbought/oversold threshold values, and the visual style of the drawn lines. This indicator helps traders quickly visualize potential reversal zones where the price might be due for a correction or bounce based on RSI extremes.

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RSI Improved Indicator

The RSI Improved Indicator combines the original RSI calculation with an additional layer of analysis. It calculates the difference between the first RSI and the inverted second RSI (100-RSI2), and then computes the rate of change (ROC) of this difference. This can provide a more nuanced view of the market's momentum and trend, potentially helping traders identify more accurate buy and sell signals.

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RSI Slope Divergence Indicator

The RSI Slope Divergence Indicator generates trading signals based on divergences between the Relative Strength Index slope and price movement. A bullish signal occurs when the price makes a new low while the RSI slope shows a higher low, indicating potential upward momentum. Conversely, a bearish signal occurs when the price achieves a new high while the RSI slope forms a lower high, suggesting impending downward pressure. Traders often confirm these signals with additional technical analysis or price action to enhance their decision-making.

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Multi-RSI Indicator

The Multi-RSI Indicator allows traders to analyze the momentum of an asset by using multiple RSI values calculated over different periods simultaneously. This approach provides a comprehensive view of market conditions, as it enables the identification of divergences and overbought or oversold conditions across various timeframes. By comparing short, medium, and long-term RSI readings, traders can gain insights into potential trend reversals or confirmations and make more informed trading decisions. To implement this, traders typically overlay several RSI indicators on their charts, each set to distinct periods such as 14, 28, and 7 days, allowing for a nuanced analysis of price action.

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RSI OMA with Alert Indicator

The RSI OMA with Alert Indicator is a variation of the traditional RSI that incorporates a moving average to smooth out the RSI values, potentially providing clearer signals regarding market momentum. This indicator tracks the RSI levels while applying a moving average to identify trends and reversals more effectively. The alert feature notifies traders of significant shifts, such as when the RSI crosses specific thresholds or the moving average, suggesting potential buying or selling opportunities. By combining the strengths of both the RSI and moving average, this tool aims to enhance trading accuracy and responsiveness to market conditions.

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Synthetic RSI Indicator

The Synthetic RSI Indicator is a momentum oscillator used to measure the speed and change of price movements, typically oscillating between 0 and 100. To trade using the Synthetic RSI, look for overbought and oversold levels: an RSI value above 80 may indicate an overbought market (a potential sell signal), while a value below 30 suggests an oversold market (a potential buy signal). Additionally, traders can use divergence between the RSI and price action to spot potential reversals. Always incorporate additional analysis and risk management strategies to enhance your trading effectiveness.

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RSI Candles with Keltner Channel

When trading with RSI candles combined with Keltner Channels in a subwindow, focus on identifying overbought or oversold conditions indicated by the RSI (typically above 70 or below 30) and observe the position of price relative to the Keltner Channels. A price that touches or breaks the upper channel while the RSI shows overbought conditions could suggest a potential reversal, while a price hitting the lower channel with an oversold RSI might indicate a buying opportunity. Additionally, look for divergence between the RSI and price action for further confirmation before entering trades. Always use risk management strategies to safeguard your capital.

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Self Adjusting RSI Indicator

The Self Adjusting RSI Indicator is a dynamic version of the traditional RSI, designed to adapt its sensitivity based on market conditions. To effectively utilize this indicator, consider the following tips: first, use varying time frames to identify trends, as a shorter time-frame may provide more responsive signals while a longer one offers stability; second, look for divergence between price action and the Self Adjusting RSI to spot potential reversals; third, combine the indicator with other tools such as moving averages or trend lines to confirm signals and reduce false positives; finally, always practice sound risk management by setting stop-loss orders and determining position sizes based on your risk tolerance.

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RSI Histogram Indicator

The RSI Histogram Indicator is used to gauge momentum and potential trend reversals. When the histogram is above zero, it indicates bullish momentum, and traders may look for buy signals, especially when the RSI crosses above a threshold of 60. Conversely, when the histogram is below zero, it signals bearish momentum, and traders may consider selling when the RSI crosses below 40. A bullish divergence occurs when the price makes a lower low while the RSI makes a higher low, suggesting a potential reversal to the upside. Conversely, a bearish divergence, where the price makes a higher high while the RSI makes a lower high, indicates a potential reversal to the downside. Always combine these signals with other technical indicators and risk management practices for better decision-making.

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MTF RSI Indicator

The MTF RSI Indicator helps traders analyze market conditions across different time frames to make informed trading decisions. Signals are typically generated based on RSI levels: an RSI above 70 might indicate an overbought condition (suggesting a potential sell signal), while an RSI below 30 indicates an oversold condition (suggesting a potential buy signal). Traders often look for convergence between time frames, such as a bullish signal on a lower time frame coinciding with a bullish trend on a higher time frame, to enhance the reliability of the signals. Always consider combining MTF RSI insights with other technical analysis tools for confirmation before executing trades.

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