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The index shows when there are overprice and divergences on the RSI.

additionally, it’s tabbed alarms, dynamic overprice levels¬†and a unique ‚ÄúRSI cleaner‚ÄĚ operate.

The only index that automatically computes the premium prices!

The index shows when there are overprice and divergences on the RSI.

additionally, it’s tabbed alarms, dynamic overprice levels¬†and a unique ‚ÄúRSI cleaner‚ÄĚ operate.

The only index that automatically computes the premium prices!

RSImaxmin is an indicator based on the relative strength Index (RSI) oscillator that efficiently identifies changes in price trends as it reflects the relative strength of bullish moves compared to rotational motions. it is widely used by dealers to measure the strength of a fad and identify end-of-trend signals.

The RSImaxmin indicator offers valuable market data and signals of overbought, oversold, bullish divergence and bearish divergence that it detects automatically. These signals are represented in the oscillator as circles for divergence points and squares for overbougnt points. Immediately, you can receive configurable alerts of these signals.

In addition, this indicator has two unique characteristics; you can chart dynamic support and resistance levels that it automatically calculates according to the market to which it has been applied and the input parameters conveniently set by the trader. Overbought and oversold levels are also automatically calculated for each chart optimizing results.

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The second unique feature of¬†RSImaxmin¬†is its ‚Äú¬†cleaner¬†RSI¬†‚Ä̬†filter¬†developed to¬†reduce signal noise, this filter can be very useful to improve the effectiveness of a strategy.

  • The indicator allows to generate alerts in different configurations (mobile application –¬†Push, email, desktop application) when divergences and overpricing are detected
  • Alerts can be repeated for the same event to guarantee or to recognize the¬†RSImaxmin
  • The¬†RSImaxmin simplifies the parameters as much as possible, so that the trader can avoid complex settings
  • The¬†RSImaxmin is valid for any asset and any time horizon
  • It can be used in strategies based solely on this indicator or it can be combined with other indicators
  • You can set the color of the indicator trend lines
  • Optimized and tested algorithm to ensure that it is always in service

contains:

  • Oscillatory line¬†RSImaxmin
  • Two lines of dynamic levels of supports and resistances in the oscillator signal
  • Three fixed level lines, ‚Äúresist¬†OB”, 50 and ”¬†support¬†OS” (although you can add or remove lines at any level that the¬†trader¬†deems necessary in the setup)

  • RSI¬†Period¬†is thecandlestick period used to calculate the value of the RSI oscillator
  • Tolerance¬†to¬†take¬†as a¬†max¬†is the value used as a condition for accepting a peak as a¬†new¬†maximum
  • Tolerance¬†to¬†take¬†as a¬†min¬†is the value used as a condition to accept a peak as a¬†new¬†minimum
  • Price and RSI¬†calculation¬†Kind¬†the algorithm can use all forms of price calculation including HL/2, HLC/3¬†and HLCC/4¬†¬†
  • Activate¬†the¬†cleaner¬†RSI¬†this is true if you want to use the filter on the oscillator to reduce signal noise
  • View¬†divergence¬†(circle)¬†is true if you want to display circles¬†in the¬†oscillator¬†at the points where¬†divergence¬†occurred
  • View¬†overprice¬†(square)¬†is¬†true if you want to display square in the oscillator at points where overpricing is detected
  • View¬†trend¬†in chart (arrow)¬†is¬†true if you want to see an arrow on the candlestick chart indicating the possible trend according to¬†RSImaxmin¬†oscillator.
  • View¬†support¬†and¬†resist¬†levels¬†is true if you want to see¬†support and resistance calculated automatically
  • Alert¬†Settings¬†This parameter allows you to choose the alerts you want to receive regarding the indicator.¬†These can be:
    • alerts_¬†off¬†
    • maxmin_¬†Divergences¬†
    • max_¬†Divergences¬†
    • min_¬†Divergences¬†
    • overbought¬†
    • oversold¬†
    • overbought_¬†sold¬†
    • all_¬†alerts¬†
  • Alert¬†Kind¬†are the options that the program allows to notify you of an event (mobile application, email, desktop application).¬†These can be:
    • Mobile¬†(you must have this option activated on your MT5 platform)
    • Email¬†(you must configure your MT5 platform to receive emails)
    • Desktop¬†
    • Alls¬†choose¬†
  • Alert¬†repetition¬†per¬†event¬†these are the times you can repeat an alert for the¬†same event.¬†You can repeat an alarm 1, 3, 5 and 10 times as you think necessary
  • alerts_¬†off¬†
  • maxmin_¬†Divergences¬†
  • max_¬†Divergences¬†
  • min_¬†Divergences¬†
  • overbought¬†
  • oversold¬†
  • overbought_¬†sold¬†
  • all_¬†alerts¬†
  • Mobile¬†(you must have this option activated on your MT5 platform)
  • Email¬†(you must configure your MT5 platform to receive emails)
  • Desktop¬†
  • Alls¬†choose¬†

If you have any questions or suggestions, you can contact me via the following 

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Published

08 February 2020

Updated

08 September 2020

Current Version

3.2

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Claudio Jones January 12, 2021 6:24 pm
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Very useful and precise index when making a determination. Carlos Moya supplies quality service. I am happy with the results. Thanks a lot

Pavel Shirykalov January 12, 2021 6:23 pm
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Thank you, an interesting indicator, I Am waiting for a Specialist

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