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The Slope Divergence indicator of the RSI MTF displays two channels for linear regression, one directly on the price and the other on the RSI. This indicator has multiple time frames.
That gauge is typically used for divergence detection, correction, or even retracement before it happens.
Below the main mt5 trading chart, a separate window with the indicator is shown.
All mt5 timeframes and currency pairs are compatible with it.
Direct changes can be made to the mt5 forex indicator settings from the input tab. To suit your preferences, feel free to play around with the mt5 indicator settings and parameters.
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Installation Guide
Copy and paste the rsi-slope-divergence-indicator-mtf.mq5 or rsi-slope-divergence-indicator-mtf—ex5 indicator files into the MQL5 folder of the MetaTrader 5 trading platform.You can gain access to this folder by clicking the top menu options, which goes as follows:File > Open Data Folder > MQL5 > Indicators (paste here).
Now go to the left side of your MT5 terminal. In the Navigator, find the gauge name, right-click it, and select Attach to the chart.| |
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It is worthwhile to add the RSI Slope Divergence indicator MTF to your trading toolkit, but keep in mind that you should have reasonable expectations. Like any other technical analysis tool, it is not always able to produce reliable signals. As a result, this forex indicator occasionally generates erroneous signals. The state of the market will have a huge impact on how it performs. Feel free to use it as the foundation for your trading strategy.
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