Forex RSI BARS Indicator

Forex RSI BARS Indicator:

The indicator changes the bar color to the color of the current trend calculated based on the RSI technical indicator.

If the trend and candlestick direction match, the color of the bar is light, if opposite, the bar is dark.

Trend strength is determined by the presence of the RSI indicator in overbought or oversold areas whose levels are determined by the indicator input parameters:

input uint HighLevel=55; // Overbought level
input uint LowLevel=45; // Oversold level

If the RSI is outside these areas, the bar is not painted.

Test results:

Forex RSI BARS Indicator

Copy and paste the file into the MQL5 Indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL5 > Indicators (paste here)

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