RSI HTF Indicator
MT5 Oscillator TradingFree DownloadThe RSI HTF Indicator for MT5 is an interesting variation of famous Relative Strenght Index. This version provides signals in the form of colorful dots instead traditional oscillator line. Essentially these points placed in the lower part are reddish and in the upper part are greenish. The seperation line is 50 value level.
How to understand the colors?
When you take a closer look, you’ll notice there are basically four colors: green, violet, brown and pink. When the readings are on the raise (ascending values), it’s signified with bright ones. On the contrary, falling signals correspond to dark tone.
Feel free to apply technical analysis strategies like divergences or even trendlines by connecting the dots. What’s more, you can consider multi time frame analysis, since this indciator suppports it (you can customize it in the settings tab).
