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RSI Dash

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  • Post #1
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  • First Post: Edited Feb 18, 2021 12:07am Dec 9, 2020 12:37am | Edited Feb 18, 2021 12:07am
  •  Inthebox
  • Joined Jun 2010 | Status: Member | 4,738 Posts
=============================================
Updated:
---------
After getting used to the mtf RSI Dash, I have come up with the following strategy.

A) Level: Day Open High Low, Previous Day High Low, Round Number, Support Resistance, Supply Demand, Fibonacci, Trend Line.

Three strategy basic rules with some variations for each individual case.
1) Structure Break ---> Pullback to or Breakout at confluence of Levels (A) above, always with Divergence (preferably hidden divergence which means trend continuation).
2) Entry at 1 (Breakout) or 2 (Pullback) or 3 (Breakout) in diagram below with mtf RSI Dash ---> Buy when all Green or Gray/Green (above level 45). Sell when all Red or Gray/Red (below level 55).
3) Discretionary Stop Loss & Take Profit one or two Support Resistance away. (I do not use hard SL but candle close exit over SL).

=============================================
Can someone please help this old man to include the following options.
1) Font size.
2) X, Y axis for positioning.

If possible, a third request
3) for color option on Upper RSI value and Lower RSI value.
Something like the image.

Thank you in advance.
Attached Images
Attached Files
File Type: mq4 rsidash.mq4   1 KB | 265 downloads
File Type: ex4 rsidash.ex4   13 KB | 183 downloads
There is Order in Randomness
  • Post #2
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  • Edited Dec 10, 2020 1:52am Dec 9, 2020 4:46am | Edited Dec 10, 2020 1:52am
  •  cja
  • Joined Feb 2007 | Status: Member | 1,650 Posts
Quoting Inthebox
Disliked
Can someone please help this old man to include the following options. 1) Font size. 2) X, Y axis for positioning. If possible, a third request 3) for color option on Upper RSI value and Lower RSI value. Something like the image. Thank you in advance. {image} {file} {file}
Ignored
Apologies I got the shift up/down and sideways the wrong way around on this indicator so I have posted an update.
Attached File
File Type: ex4 rsi dash.ex4   17 KB | 154 downloads

Attached Image (click to enlarge)
Click to Enlarge

Name: rsi numbers.png
Size: 62 KB


An update : I thought it might be helpful to show the RSI and Timeframe. It has an Unique ID value ( change the value for each indicator loaded on the chart ) so you can now load several indicators onto the same chart.
NOTE : A small update to the Timeframe code to show the Timeframe Label when current is selected.
Attached File
File Type: ex4 rsi dash v1.ex4   19 KB | 361 downloads

Attached Image (click to enlarge)
Click to Enlarge

Name: rsidash2.png
Size: 71 KB
Trade what you see not what you hope
11
  • Post #3
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  • Dec 9, 2020 5:00am Dec 9, 2020 5:00am
  •  Inthebox
  • Joined Jun 2010 | Status: Member | 4,738 Posts
Quoting cja
Disliked
{quote} {file} {image}
Ignored
that was fast.
thank you so much for your Christmas gift.
thank you.
There is Order in Randomness
  • Post #4
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  • Dec 9, 2020 9:08pm Dec 9, 2020 9:08pm
  •  Inthebox
  • Joined Jun 2010 | Status: Member | 4,738 Posts
rsi as momentum, instead of the usual overbought/oversold.
m30/m5 55/45 momentum.
Attached Image (click to enlarge)
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Name: GBPAUD,M30.png
Size: 81 KB
There is Order in Randomness
  • Post #5
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  • Dec 9, 2020 9:29pm Dec 9, 2020 9:29pm
  •  Inthebox
  • Joined Jun 2010 | Status: Member | 4,738 Posts
result.
rsi as relative strength.
Attached Image (click to enlarge)
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Name: GBPAUD,M5.png
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There is Order in Randomness
  • Post #6
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  • Dec 9, 2020 9:36pm Dec 9, 2020 9:36pm
  •  aud
  • | Joined Apr 2008 | Status: Member | 865 Posts
Now you just need a MTF one so you do not need 4 charts to get 4 reading. lol

Looks interesting.
Good Trading
  • Post #7
  • Quote
  • Dec 9, 2020 9:43pm Dec 9, 2020 9:43pm
  •  Inthebox
  • Joined Jun 2010 | Status: Member | 4,738 Posts
Quoting aud
Disliked
Now you just need a MTF one so you do not need 4 charts to get 4 reading. lol Looks interesting.
Ignored
this one is special.
it sorts out the relative strength, not the mtf one, less confusion.
simple usage of 2 time frames is good enough for a scalp or short term day trading.
especially during european session.
There is Order in Randomness
1
  • Post #8
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  • Dec 9, 2020 10:16pm Dec 9, 2020 10:16pm
  •  Inthebox
  • Joined Jun 2010 | Status: Member | 4,738 Posts
however one cannot simply trade blindly based on rsi.
one still needs to interpret what the charts are showing.
for example, i won't buy eurjpy now.
there are resistances above and it's against the trend.
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Name: EURJPY,M5.png
Size: 79 KB
There is Order in Randomness
1
  • Post #9
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  • Dec 10, 2020 12:22am Dec 10, 2020 12:22am
  •  Inthebox
  • Joined Jun 2010 | Status: Member | 4,738 Posts
this has already become my currency strength meter.
2 hours to europe session.
today till now, it appears that the commodity currencies (AUD,NZD,CAD)
are stronger than EUR,GBP.
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There is Order in Randomness
1
  • Post #10
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  • Dec 10, 2020 2:06am Dec 10, 2020 2:06am
  •  Inthebox
  • Joined Jun 2010 | Status: Member | 4,738 Posts
short term day trading.
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There is Order in Randomness
  • Post #11
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  • Dec 10, 2020 2:15am Dec 10, 2020 2:15am
  •  Inthebox
  • Joined Jun 2010 | Status: Member | 4,738 Posts
this has become RSI Relative Strength Meter.
all thanks to Cja

frankfurt open.
quite obvious that gbp to be sold.
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There is Order in Randomness
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  • Post #12
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  • Dec 10, 2020 3:32am Dec 10, 2020 3:32am
  •  Waih
  • | Joined Aug 2018 | Status: Member | 42 Posts
Quoting Inthebox
Disliked
this has become RSI Relative Strength Meter. all thanks to Cja frankfurt open. quite obvious that gbp to be sold. {image}
Ignored
how did u do this? tried dragging the same indicator with different timeframes and XY positioning and it doesnt open like yours
In It To Win
  • Post #13
  • Quote
  • Dec 10, 2020 3:35am Dec 10, 2020 3:35am
  •  aud
  • | Joined Apr 2008 | Status: Member | 865 Posts
Brilliant.

I see what you mean, no mtf required.

To compare long timeframes or longer RSI's?

Attached Image (click to enlarge)
Click to Enlarge

Name: rsi-dash.png
Size: 21 KB
Good Trading
  • Post #14
  • Quote
  • Dec 10, 2020 5:15am Dec 10, 2020 5:15am
  •  Inthebox
  • Joined Jun 2010 | Status: Member | 4,738 Posts
Quoting Waih
Disliked
{quote} how did u do this? tried dragging the same indicator with different timeframes and XY positioning and it doesnt open like yours
Ignored
change those arrowed.
Attached Images
There is Order in Randomness
2
  • Post #15
  • Quote
  • Dec 10, 2020 5:16am Dec 10, 2020 5:16am
  •  Inthebox
  • Joined Jun 2010 | Status: Member | 4,738 Posts
Quoting aud
Disliked
Brilliant. I see what you mean, no mtf required. To compare long timeframes or longer RSI's? {image}
Ignored
use same rsi with different time frames.
There is Order in Randomness
  • Post #16
  • Quote
  • Dec 10, 2020 7:32am Dec 10, 2020 7:32am
  •  Inthebox
  • Joined Jun 2010 | Status: Member | 4,738 Posts
15 min to eur economic news.
will the tide change the mostly red?
Attached Image
There is Order in Randomness
  • Post #17
  • Quote
  • Dec 10, 2020 8:00am Dec 10, 2020 8:00am
  •  Inthebox
  • Joined Jun 2010 | Status: Member | 4,738 Posts
it's like watching computer game.
the eur green trying to make a come back.
Attached Image
There is Order in Randomness
2
  • Post #18
  • Quote
  • Dec 10, 2020 9:25am Dec 10, 2020 9:25am
  •  Waih
  • | Joined Aug 2018 | Status: Member | 42 Posts
Quoting Inthebox
Disliked
{quote} change those arrowed. {image} {image}
Ignored
Many thanks, it worked!
In It To Win
  • Post #19
  • Quote
  • Dec 10, 2020 9:45am Dec 10, 2020 9:45am
  •  Shabs19
  • Joined Aug 2006 | Status: Member | 2,458 Posts
Quoting cja
Disliked
{quote} Apologies I got the shift up/down and sideways the wrong way around on this indicator so I have posted an update. {file} {image} An update : I thought it might be helpful to show the RSI and Timeframe. It has an Unique ID value ( change the value for each indicator loaded on the chart ) so you can now load several indicators onto the same chart. NOTE : A small update to the Timeframe code to show the Timeframe Label when current is selected. {file} {image}
Ignored
Nice Idea for a strength meter - Well Done Cja & InTheBox

To Earn you must Learn
1
  • Post #20
  • Quote
  • Dec 10, 2020 11:13am Dec 10, 2020 11:13am
  •  Inthebox
  • Joined Jun 2010 | Status: Member | 4,738 Posts
after more than 3 hours of battle, it seems that the green is retreating.
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There is Order in Randomness
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