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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:
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Please do not use this indicator haphazardly. Make sure it compliments your strategy.
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Don’t risk money you cannot afford to lose.
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You use this indicator at your own risk. Please apply money management wisely.
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Always test your strategy on a demo account before using a new indicator on a live account.
