After successfully trading the new version of the RSI-5 on the 5M_Chart together with its improvements, I am happy to inform you that I have found the overlay of a 14-RSI over the 5-RSI to be extremely effective for change in direction.

Beauty of this method is that you can "back-test" the results as it does NOT repaint at all.

Whenever the RSI-5 crosses above / below the RSI-14, the directional change is in effect. What is also of extremely good value is the fact that in a retrace, the 5-RSI does NOT cross the 14-RSI and one knows immediately that the ensuing direction is still strong - its like the ZLR on the CCI.

Furthermore, I have added a Z_MTF_RSI set @ TF 60 and setting @ 5 over all of the RSIs so that you can see where the 5-RSI is on the H1-chart and what I find is that whenever the RSI-60M is above the 50%-level, it confirms the long signal and vice versa when the RSI-60M is below the 50%-level. I attach this indicator here for your perusal and use, thanks to my friend Gerhard (DayTrader) for his assistance in helping me to achieve my desired goal with the RSIs.

I have also added the Template seperately in Post #2 so that you do not have to download the entire spectrum of indicators again.

I look forward to hearing from your success with this method.

Best wishes.

Attached Files

	tsd-forum.tpl (110.3 KB, 208 views)
	Z_MTF_RSI(1).mq4 (4.0 KB, 263 views)

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