RSI Divergence trading indicator
RSI Divergence trading indicator for MetaTrader 5 terminal is based on the RSI oscillator.
The RSI Divergence indicator draws an RSI indicator line in the basement window and displays the found prices on it and on the price chart divergence.
Divergences are only looked for in areas where the RSI line is above/below overbought/oversold levels.
The indicator has six customizable parameters:
- Period - calculation period
- Applied price - settlement price
- Overbought - overbought level
- Oversold - oversold level
- Bullish color - color of bullish signal arrows and lines
- Bearish color - color of bearish signal arrows and lines
Note that in a protracted trend. RSI Divergence trading indicator for MT5 can give false signals, so we recommend using it in combination with filtering indicators.
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