DSL RSI Indicator for MT5

 

The Dsl RSI Indicator For MT5 is an indicator which combines the power of two highly effective indicators known as the Discontinued Signal Line indicator and the Relative Strength Index oscillator indicator - the DSL component is brilliant because it signals the exhaustion of up or down cycles thus giving the trader a clear directive as to be on the lookout for reversal entry points into the market. Whereas the Relative Strength Index is there to measure the strength of the given trend and also its direction however using the Relative Strength Index indicator in isolation becomes tricky especially during trending conditions when the oversold and overbought regions are sometimes erroneously detected in error therefore combining this indicator with the power of the Discontinued Line Signal indicator and sound price action analyses helps to mitigate the adverse effects of such drawbacks. The oscillator changes color depending on the direction of the market so if the market is in a downtrend the color of the oscillator will be orange and when its in a bullish market the oscillator will be green however there are a pair of green and orange dashed lines which form levels to indicate to the trader when to open respective sell and buy trades whenever those lines are being crossed by the oscillator.