RSI Div 2 2
From the Old Kings archive: RSI Div 2 2, an indicator for MetaTrader 4. As the name suggests, the idea behind it is the RSI oscillator (overbought / oversold zones) and divergence between price and an oscillator. In the code it works with divergence checks, RSI and moving averages. It draws arrows on the chart. It has 7 settings, for example separator1 (default *** bear Settings ***), rsiperiod1 (default 7.0) and separator2 (default *** Indicator Settings). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 1 indicator file with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Indicator · MT4 · v1.0 · Free
About RSI Div 2 2
RSI Div 2 2 is an indicator for MetaTrader 4 based on Divergence, RSI and Moving Average. It draws buy and sell arrows on the chart. It has 7 settings, such as Separator1, Rsiperiod1 and Separator2. MQL source code included.
Files in the download: RSIDiv.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Separator1 | *** bear Settings *** | |
| Rsiperiod1 | 7.0 | Number of bars in the calculation |
| Separator2 | *** Indicator Settings | |
| Positive sensitivity | 0.0001 | |
| Negative sensitivity | -0.0001 | |
| History bars count | 0.0 | |
| Draw divergence lines | FALSE |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: RSI · Buy/Sell Arrows · Divergence · Moving Average · MT4 Indicator · MQL4 Source Code