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RSI Dash

  • #1
  • First Post: Edited Mar 1, 2021 1:11am Dec 8, 2020 11:37pm | Edited Mar 1, 2021 1:11am
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Updated:
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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.

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).
Attached Image
Attached Image (click to enlarge)
Click to Enlarge Name: 2021-03-01 15_05_58-Window.png Size: 24 KB

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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 Image
Attached File(s)
File Type: mq4 rsidash.mq4   1 KB | 1,712 downloads
File Type: ex4 rsidash.ex4   13 KB | 1,239 downloads
ITB - Seeing Orderliness amongst 'Randomness'
  • #2
  • Edited Dec 10, 2020 12:52am Dec 9, 2020 3:46am | Edited Dec 10, 2020 12:52am
Quoting Inthebox
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}
Apologies I got the shift up/down and sideways the wrong way around on this indicator so I have posted an update.
Attached File(s)
File Type: ex4 rsi dash.ex4   17 KB | 941 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(s)
File Type: ex4 rsi dash v1.ex4   19 KB | 1,535 downloads

Attached Image (click to enlarge)
Click to Enlarge Name: rsidash2.png Size: 71 KB
Trade what you see not what you hope
  • #3
  • Dec 9, 2020 4:00am Dec 9, 2020 4:00am
Quoting cja
{quote} {file} {image}
that was fast.
thank you so much for your Christmas gift.
thank you.
ITB - Seeing Orderliness amongst 'Randomness'
  • #4
  • Dec 9, 2020 8:08pm Dec 9, 2020 8:08pm
rsi as momentum, instead of the usual overbought/oversold.
m30/m5 55/45 momentum.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD,M30.png Size: 81 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #5
  • Dec 9, 2020 8:29pm Dec 9, 2020 8:29pm
result.
rsi as relative strength.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD,M5.png Size: 87 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #6
  • Dec 9, 2020 8:36pm Dec 9, 2020 8:36pm
Now you just need a MTF one so you do not need 4 charts to get 4 reading. lol

Looks interesting.
Good Trading
  • #7
  • Dec 9, 2020 8:43pm Dec 9, 2020 8:43pm
Quoting aud
Now you just need a MTF one so you do not need 4 charts to get 4 reading. lol Looks interesting.
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.
ITB - Seeing Orderliness amongst 'Randomness'
  • #8
  • Dec 9, 2020 9:16pm Dec 9, 2020 9:16pm
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.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY,M5.png Size: 79 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #9
  • Dec 9, 2020 11:22pm Dec 9, 2020 11:22pm
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.
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #10
  • Dec 10, 2020 1:06am Dec 10, 2020 1:06am
short term day trading.
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-12-10_15-05-59.png Size: 74 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #11
  • Dec 10, 2020 1:15am Dec 10, 2020 1:15am
this has become RSI Relative Strength Meter.
all thanks to Cja

frankfurt open.
quite obvious that gbp to be sold.
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #12
  • Dec 10, 2020 2:32am Dec 10, 2020 2:32am
Quoting Inthebox
this has become RSI Relative Strength Meter. all thanks to Cja frankfurt open. quite obvious that gbp to be sold. {image}
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
  • #13
  • Dec 10, 2020 2:35am Dec 10, 2020 2:35am
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
  • #14
  • Dec 10, 2020 4:15am Dec 10, 2020 4:15am
Quoting Waih
{quote} how did u do this? tried dragging the same indicator with different timeframes and XY positioning and it doesnt open like yours
change those arrowed.
Attached Images
ITB - Seeing Orderliness amongst 'Randomness'
  • #15
  • Dec 10, 2020 4:16am Dec 10, 2020 4:16am
Quoting aud
Brilliant. I see what you mean, no mtf required. To compare long timeframes or longer RSI's? {image}
use same rsi with different time frames.
ITB - Seeing Orderliness amongst 'Randomness'
  • #16
  • Dec 10, 2020 6:32am Dec 10, 2020 6:32am
15 min to eur economic news.
will the tide change the mostly red?
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #17
  • Dec 10, 2020 7:00am Dec 10, 2020 7:00am
it's like watching computer game.
the eur green trying to make a come back.
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #18
  • Dec 10, 2020 8:25am Dec 10, 2020 8:25am
Quoting Inthebox
{quote} change those arrowed. {image} {image}
Many thanks, it worked!
In It To Win
  • #19
  • Dec 10, 2020 8:45am Dec 10, 2020 8:45am
Quoting cja
{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}
Nice Idea for a strength meter - Well Done Cja & InTheBox

It never gets easier, you just get better
  • #20
  • Dec 10, 2020 10:13am Dec 10, 2020 10:13am
after more than 3 hours of battle, it seems that the green is retreating.
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
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