RSI_Slowdown – indicator for MetaTrader 5

  • Platform: Metatrader5
  • Currency pairs: Any pairs, indices and metals
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  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • Semaphore signal indicator based on the RSI indicator, which features alerts, sending emails and push-notifications to mobile devices.

    The indicator is based on the idea that the price reversal is preceded by a reduction in indicator change rate and its reversal. For this purpose, it searches for the intervals where the price begins to stagnate in the overbought or oversold area of the fast RSI indicator.

    The indicator provides the ability to mark these areas with arrows on the chart. It is also possible to disable searching for the RSI slowdowns. In that case, the indicator will simply display exceedance of the RSI levels specified in the settings — LevelMax and LevelMin.

    //| Indicator input parameters                   |
    input uint RSIPeriod=2;                         // RSI Period
    input double LevelMax=90;                       // Signal Level Max
    input double LevelMin=10;                       // Signal Level Min
    input bool SeekSlowdown=true;                   // Seek Slowdown
    input int Shift=0;                              // Horizontal indicator shift in bars
    //---- Input variables for alerts 
    input uint NumberofBar=1;                       // Bar number for the signal
    input bool SoundON=true;                        // Enable alerts
    input uint NumberofAlerts=2;                    // Number of alerts
    input bool EMailON=false;                       // Enable mailing the signal
    input bool PushON=false;                        // Enable sending the signal to mobile devices

    Originally this indicator has been written in MQL4 and was first published in the Code Base on 05.10.2016.

    Fig1. The RSI_Slowdown indicator

    Fig1. The RSI_Slowdown indicator

    Fig.2. The RSI_Slowdown indicator generating alert

    Fig.2. The RSI_Slowdown indicator generating alert

  • How to install MT5 indicator?
  • 1. On the desktop, double-click to open the MT45 trading platform software you installed.
  • 2. Click on “File” in the upper left corner – “Open Data Folder”, double-click the MQL5 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT5, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window
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