RSI colored block indicator... | Forex Factory

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RSI colored block indicator...

  • #1
  • First Post: Oct 18, 2007 7:03am Oct 18, 2007 7:03am
Now I'm looking for something like this..

I think I saw a rsi indicator, or something like this, that instead of drawing a line that oscillated between 0 and 100 it draws a block. If the rsi is > 49.9 the block is green and if it is < 50.0 the block is red. Something like the image below. Anyone have or seen something like that? If it's not for the rsi, maybe another indicator and I can try to 'edit' it...
Attached Image
  • #2
  • Oct 18, 2007 11:48pm Oct 18, 2007 11:48pm
Quoting lq_sunshine
The Indicator is just a normal RSi Indicator, which displays colors instead of a line.Its more intuitive and easier to observe than a line indicator.especially if you watching many of them.

When the RSI is near 50 it is shown as a white block.
When the RSI is above 50 you see green color (e.g. an uptrend)
When the RSi is below 50 you see red blocks (e.g. downtrend).

The intensity of the block colour shows strong or weak.


The main advantage is,that you can observe many currency pairs at once without have to look on many chart windows.

You may use the invert function of the indicator,if you are for example trading the EURUSD
and want to add the indicator with USDCAD.
When the USD is weak compared to the CAD it could be positive für the EURUSD.
Thats why you can invert the strength of the indicator.
a weak USDCAD has an RSI below 50 (red).When you invert it .. a weak dollar is shown as positive.. (green)
Sorry.. my english is not so good
This is not mine but very close.
Attached Image
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File Type: mq4 multisymbol_color-RSI_LQ.mq4   5 KB | 3,918 downloads
  • #3
  • Oct 19, 2007 7:10am Oct 19, 2007 7:10am
Thanks banzai! That just might do it....
  • #4
  • Apr 21, 2012 8:15pm Apr 21, 2012 8:15pm
Hi,

I've been testing this indicator for a while and I really like it; works really great. Can anyone modify it to sound and display an alert when the colour changes?

thx,
bonnevie
  • #5
  • Last Post: Mar 11, 2023 1:04pm Mar 11, 2023 1:04pm
Attachment 4
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File Type: mq4 rsi_heatmap_1_1(1).mq4   11 KB | 451 downloads
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