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This indicator takes input from the RSI from multiple time frames (M/W/D/H4/H1/M30), and presents the output as lines above or below the price, on the main chart.
Great for scalping.
Features alerts for the current time frame’s RSI (the Arrows).
Settings:
RSI period settings for M/W/D/H4/H1/M30/Current. (Set to your preference)
PSar settings for trend determination; for current chart’s time frame.
How to use:
Simply attach to M5 (Scalping – zoom chart out completely on M5) or use on higher time frames’ charts.
Zoom chart out completely to get a better view of the chart.
Hover over the lines to see the time frame applicable.
e.g, sell trade: Sell when H4/H1 above price on M5, or Daily above price on H1 – then trade on red arrows/psar above price.
e.g, buy trade: Buy when H4/H1 below price on M5, or Daily below price on H1 – then trade on blue arrows/psar below price.
Or backtest and use as you see fit for your strategy.
Best results on Major Pairs, but can also be used on other pairs.
Important to note:
Please do not use this indicator haphazardly. Make sure it compliments your strategy.
Don’t risk money you cannot afford to lose.
You use this indicator at your own risk. Please apply money management wisely.
Always test your strategy on a demo account before using a new indicator on a live account.
