RSI with RSI Indicator
Platform: MT5 Type: Oscillator Last update: February 16, 2025The RSI with RSI Indicator for MT5 presents interesting approach, combining two instances of the classic relative strength index oscillator.
Most of the regular rsi-based indicators uses just one source for the calculations, this tool takes a step further and leverages dual readings. By doing so, the indicator captures both short-term retracements and long-term trends. In other words, it offers a more holistic view of the market.
Example chart:
Trading signals of the rsi with rsi mt5 indicator
The indicator uses (by default) rsi periods of 5-week and 17-week. The shorter period serves to identify entry and exit points, while the longer period acts as a filter to confirm the overall trend direction. In the result, its signals cover smaller fluctuactions and broader market trends as well.
Visual display
When it comes to the looks of provided signals, the indicator simply places dots directly on trading chart.
Blue dots represent bullish signals, suggesting that it may be an good time to enter a long position. Converesely, orange dots define bearish signals, which means that a short position might be worth considering. Feel free to open a trade after the triggering candle is closed.
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