MT4 RSI colored candles indicator? | Forex Factory

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MT4 RSI colored candles indicator?

  • #1
  • First Post: Mar 5, 2015 12:58pm Mar 5, 2015 12:58pm
hi I'm looking for an indicator that can color the candles to show the current state of the rsi. For example, all candles can be white and once a standard period 14 rsi reaches an os or ob level that I choose (if possible it can be input) then the candle will show up as green or red (or any color I choose) ? thankyou
  • #2
  • Mar 5, 2015 1:54pm Mar 5, 2015 1:54pm
Do you mean something like this one?
Attached File(s)
File Type: ex4 RSI Candles.ex4   4 KB | 1,857 downloads
  • #3
  • Mar 6, 2015 12:23am Mar 6, 2015 12:23am
Quoting liamg4x
Do you mean something like this one? {file}
no sorry I think all that indicator does is make every candle green or red if it's over and under 50..
  • #4
  • Jan 1, 2020 3:09pm Jan 1, 2020 3:09pm
Quoting justin7
{quote} no sorry I think all that indicator does is make every candle green or red if it's over and under 50..
I realize it has been quite some time since you made this request, but hopefully you will see this message as this is what I believe you are looking for: https://www.mql5.com/en/market/product/41975
Learn from your mistakes and march on.
  • #5
  • Mar 1, 2025 5:41pm Mar 1, 2025 5:41pm
Quoting here2there
{quote} I realize it has been quite some time since you made this request, but hopefully you will see this message as this is what I believe you are looking for: https://www.mql5.com/en/market/product/41975
Thanks for sharing that, looks like this thread gets a boost every 5 years!

And did you know, you all are using RSI wrong?

Check AUDUSD this week, starts off in the Caution zone, moves into the Sell zone.

Who was on it? Show me the money!

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It takes a lot for me to IGNORE you, but you can try.
  • #6
  • Mar 3, 2025 7:47pm Mar 3, 2025 7:47pm
Quoting Erebus
{quote} Thanks for sharing that, looks like this thread gets a boost every 5 years! And did you know, you all are using RSI wrong? Check AUDUSD this week, starts off in the Caution zone, moves into the Sell zone. Who was on it? Show me the money! {image}
Yeah, the funny thing about RSI is people tend to think that once it hits oversold, it means buy, and vice versa. But it seems better to do the opposite.
Learn from your mistakes and march on.
  • #7
  • Last Post: Mar 3, 2025 9:14pm Mar 3, 2025 9:14pm
Quoting here2there
{quote} Yeah, the funny thing about RSI is people tend to think that once it hits oversold, it means buy, and vice versa. But it seems better to do the opposite.
That is true for trends, the trick is to be able to get on it, and stay with it, easier said than done, usually disappointments happen before the magic works.

I prefer the 4-Hour swings, tracking some in my Demo Trade Manager right now.

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It takes a lot for me to IGNORE you, but you can try.
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