RSI Indicators for mt4

 

This is a special indicator, indeed and the best part is that it filters those Divergence signals so well. For me, this is the Best RSI Divergence indicator on MT4 now.

Divergences are only visible on this indicator if:

• If RSI MA is outside 80 Overbought, Bearish Divergence signal will appear (to forecast a reversal to the downside)
• If RSI MA is outside 20 Oversold, Bullish Divergence signal will appear (to forecast a reversal to the upside)

Thank you Mrtools for taking time to upgrade & optimize this indicator for us & thanks to TEAMTRADER for the great suggestion and for sharing his settings in the previous posts.

PS: For traders looking for a template to get you started, here's what we've posted today:

RSI 6 Lines Divergence.tpl

RSI 6 Lines Divergence Chart Template MT4.zip