RSI (Fast) above/below RSI (Slow) displayed as a Histogram | Forex Factory

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RSI (Fast) above/below RSI (Slow) displayed as a Histogram

  • #1
  • Quote
  • First Post: Jun 20, 2013 5:55am Jun 20, 2013 5:55am
I'm looking to replace an Rsi-10/Rsi-50 line indicator on some charts with a Histogram that will show a Green vertical when the fast Rsi is above the Slow Rsi and a Red bar when it is below. It should also be easy to change the look-back periods and the colors by the user.
I've attached 2 charts for to help better see what I'm trying to do.

I've also included the code I'm using now for the Rsi-10/Rsi-50 line indicator as well as the histogram for
Rsi-50 above/below 50%, in case it's useful.
Thanks for any help.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Rsi10 vs Rsi50 Histogram1-130619.png Size: 33 KB
Click to Enlarge Name: Rsi10 vs Rsi50 Histogram2-130619.png Size: 19 KB
Attached File(s)
File Type: mq4 Rsi 10-50.mq4   6 KB | 1,388 downloads
File Type: mq4 RSI-50 Custom-50-50-Bars.mq4   3 KB | 1,426 downloads
  • #2
  • Quote
  • Jun 20, 2013 8:15am Jun 20, 2013 8:15am
I just noticed that the "RSI-50 Custom-50-50-Bars.mq4" doesn't repaint after the bar closes so that was a poor example to send.
Not much good if they don't repaint the truth at the end of the bar!
  • #3
  • Quote
  • Jun 21, 2013 3:03am Jun 21, 2013 3:03am
Hi Luna ,

Please check this indicator :
Attached File(s)
File Type: mq4 RSI-2X Custom-Bars.mq4   3 KB | 1,383 downloads
KISS&V :Keep it simple safe & visual
  • #4
  • Quote
  • Jun 21, 2013 7:16am Jun 21, 2013 7:16am
Thanks a lot Sohocool,

I've been testing the "RSI-2X Custom-Bars.mq4" for the last several hours. When I apply it to the chart the bars are all as they should be, above/below. The problem is the new bars that are created from that point on. I get the impression that when the bar opens the RSI-2X reads the RSI status as above or below and paints the bar the appropriate color. If the status has changed from above to below or vice versa by the time the bar closes it probably does not repaint the bar. So then many of the bars are then the wrong color. When I open up the RSI-2X and say "OK" again it then refreshes/resets the bars status correctly.

I don't know if you are able to fix whatever needs to be fixed here but I am attaching another RSI indicator code that also colors the line indicator in similar fashion (above 50/below 50) and this one works as it should. I thought that it might help to understand how they do it.
I was able to do the basic coding for myself when I was using TradeStation/Easy Language but the MT4 coding I'm afraid is a language I fail to master or even understand.

I would be very appreciative if you could fix this problem because RSI-2X does exactly what I was looking for it to do.
Thanks again
Attached File(s)
File Type: mq4 RSI_50Color_v1.01_maxsig-NoAlerts.mq4   14 KB | 1,064 downloads
  • #5
  • Quote
  • Jun 21, 2013 7:39pm Jun 21, 2013 7:39pm
Hi Luna ,

Please try this modified indicator , seems better.
Attached File(s)
File Type: mq4 RSI-2X Custom-Bars.mq4   3 KB | 1,734 downloads
KISS&V :Keep it simple safe & visual
  • #6
  • Quote
  • Last Post: Jun 22, 2013 6:33am Jun 22, 2013 6:33am
Hi Sohocool,


I've had this modified RSI-2X you sent under test until the end of the day using several different charts and using different parameters and it does exactly what I was looking for it to do. Now I will be able to better test my plan(s) and see if they're ready for the next step of developing one or more into an EA.

This is a great help visually which should lead to much quicker decisions.
Thank you very much.
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