• Overview
  • Reviews (7)
  • Comments (22)

Bermaui RSI Candles

5

The idea of this indicator is to draw RSI in the form of candles that can be compared with price charts to generate buy and sell signals. The indicator is not my invention. I founded it on the internet several years ago. I updated the code, added alert functions, added the Bermaui Utilities group of tools.

The indicator calculates the RSI of all the prices that are used to draw candlesticks (RSI of the open, high, low & close). It uses the highest of them to draw the RSI candles high wick & the lowest of them to draw the RSI candles low wick. The RSI candles' body lies between their highs and the lows. If the RSI of the open is lower than the RSI of the close, the RSI Candle is considered bullish. If the RSI of the open is higher than the RSI of the close, the RSI Candle is considered bearish.

How to use it

  • You can trade trend lines breakout on the RSI Candles indicator, which will lead the trend on the price chart because momentum leads the price.
  • You can draw any form of classic chart patterns on the RSI Candles indicator and trade them exactly like how you do with the original RSI.
  • It can be used as a classic RSI. If it crosses overbought (70%), then sell and if it crosses oversold (30%), then buy.
  • You can use divergence between RSI Candles and price charts to confirm your trading signals.

RSI Candles Features

  • It does not repaint or recalculate its results.
  • It works on cryptocurrencies, stock, index, oil, gold, and on all time frames.
  • Sound, email alerts and Mobile Notification.
  • Vertical Lines that show overbought and oversold signals on the chart.
  • Well-designed parameters to help user easily navigate between them.
  • Buffer to build your own expert advisors.
  • Four different color lists to choose from.

RSI Candles Parameters

(1) INDICATOR PARAMETERS

  • RSI Period.The default is 14.
  • Over Sold Level.The default is 30%
  • Over Bought Level.The default is 70%

(2) V LINES & ALERTS

  • Show Vertical Line.If true it will draw vertical lines on the chart when RSI Candles cross to/out of the overbought or oversold areas. The default is false.
  • Sound Alert.The default is true.
  • Send Email.The default is false.
  • Send Mobile Notification.The default is false.
(3) UTILITIES SETTINGS
  • Symbols Source from.Get symbols from the custom Symbol Listor from Market Watch.
  • List of symbols (separated by ";")If you choose symbols from a custom list then separate between symbols by ";".
  • Button Font Size. The default is ten.
  • Channel Length [> 1]Number of candles used in channel calculation. The default is 100.
  • Panel Appear [Shift + Letter]Letter to press plus shift to make the panel appear. Default is "A"
  • Panel Disappear [Shift + Letter]Letter to press plus shift to make the panel disappear. Default is "D"
(4) INDICATOR STYLE
  • Chart Colors List:the user can choose between four different color lists for his chart or he can choose (Do Nothing) if he wants to use his own list.


If you have any questions then please, contact me via a private message or, write them in the comment section.
Muhammad Al Bermaui, CMT
Reviews 7
pornchai_p
639
pornchai_p 2023.06.04 04:21 
 

This is the best RSI indicator. HIghly recommnended. Please kindly send me the free Stochastic indicator. Thank you.

Suvashish Halder
38479
Suvashish Halder 2022.04.07 05:58 
 

Best RSI indicator in this market and it's a real deal. Thank you for your work ❤

faithdefender
1736
faithdefender 2022.02.12 21:05 
 

This man is just plain honest! I own three of his indicators and I cant complain. Bermaui Bands, TDO and now RSI Candles. I may not be making money, but the indicators do what he says they would do. And the price is fair especially in the light of 1000 activations compared to many of the sleazy Vendors who only give 5. And then they (other Vendors) turn around and lie to you saying "we are following the rules set by MQL and are prohibited from giving more than 5. Apparently, Mr. Elbimawri didnt get the memo. Nevertheless, why the lengthy review? I just purchased a different RSI indicator (because it was 10 bucks cheaper) and I have nothing but regrets. It is called "RSI As Bar". I sent the complaint to the Vendor the first hour, , but he never responded. Not only that, but he has pulled his indicator. If I go to the page, I now have a note that says "Unfortunately, "RSI as Bar" is unavailable." He will probably repackage it with a new name and sell it again to the public. Why? Because he can do it and get away with it since there is no accountability on this platform. MQL loves the vendors because it brings people to this venue, but to think of the people who have been ripped off! I hope Mr Elbermawi continues to come up with new ideas. And thank you for your honesty in value and indicators.

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Supply and Demand Dashboard PRO
Bernhard Schweigert
4.8 (20)
Currently 20% OFF ! This dashboard is a very powerful piece of software working on multiple symbols and up to 9 timeframes. It is based on our main indicator (Best reviews:   Advanced Supply Demand ). The dashboard gives a great overview. It shows: Filtered Supply and Demand values including zone strength rating, Pips distances to/and within zones, It highlights nested zones, It gives 4 kind of alerts for the chosen symbols in all (9) time-frames. It is highly configurable for your personal
CURRENTLY 31% OFF !! Best Solution for any Newbie or Expert Trader! This indicator is a unique, high quality and affordable trading tool because we have incorporated a number of proprietary features and a secret formula. With only ONE chart it gives Alerts for all 28 currency pairs. Imagine how your trading will improve because you are able to pinpoint the exact trigger point of a new trend or scalping opportunity! Built on new underlying algorithms it makes it even easier to identify and confir
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Or (TDO)  which is an index that measures the price rate of change using the principle of " Pure Momentum ". When a security price advances from 10 to 15 then the price rate of change is 150% but when it declines back from 15 to 10 then the price rate of change is 33.3% only. That is why technical analysis indicators like "Price Rate of Change" (ROC) or "Momentum" give higher readings for ascending price movements than those given to descending ones. TDO fixes this problem to help traders at re
Bermaui Deviation Percent
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Or ( BD% ) which is a volatility index that measures volatility in percent rather than points. The idea of BD% is to make an index depending on the Classic Standard Deviation (CSD) that moves between 0 and 100 percent. You can use BD% to compare volatility for the same security in different time periods or different time-frames. In addition, you can use BD% to compare volatility between different securities in different markets in terms of percent rather than points. HOW TO USE "BD%" I
Classic Keltner Channel
Muhammad Elbermawi
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Or CKC. This indicator works depending on the classic ten-day moving average rule described by Chester W. Keltner (1909–1998). All parameters are set to the classic version of the Keltner system by default, while the user can change them if he wants. Important Information    Read CKC Manual:   https://www.mql5.com/en/blogs/post/736577    CKC Expert Advisor Example:   https://www.mql5.com/en/blogs/post/734150 About Keltner Channel Formula 1. Calculate the Center Line as a simple moving aver
Bermaui Manual EA
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This is a semi-automatic expert advisor that trades the grid system. The idea is to gradually take different positions in the market, then to calculate the break-even level for them. When the prices pass this break-even by a predetermined distance all opened orders are closed. Important Information Here is the user's guide:   https://www.mql5.com/en/blogs/post/730567 You can try this EA with any of my other products, here:    https://www.mql5.com/en/users/bermaui314/seller Important Featur
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Or M oving A verage S upport R esistance Bands . MASR Bands indicator is a moving average surrounded by two bands that work together as support and resistance levels. Statistically, MASR Bands contain price candles 93% of the time. Here is how it is calculated in steps: 1. The first step is to calculate the highest high (HHV) and the lowest low (LLV) for an X period of time. 2. The second step is to divide HHV by LLV to get how wide is the distance between them as a percentage. I call the
Bermaui Bands
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Bermaui Bands (BB) is a technical analysis tool that helps filter between ranging and trending price movements. The idea behind this indicator can be explained in the next steps: Calculate Standard Deviation as an oscillator that moves between 0 and 100. I will name it Bermaui Deviation percent (BD %). If "BD %" is near zero then volatility is at its extreme. In addition, if "BD %" is near 100 then volatility is very low. High volatility means a great probability for a trending market, while low
Moving Average Cloud
Muhammad Elbermawi
4.92 (13)
Or "MAC". This is an indicator designed to help you capture and trade the trend. The idea behind this indicator can be explained in the next steps: Draw a fast-moving average Envelope. Draw a slow-moving average Envelope. The MAC Upper Band is the highest value between the high of both Envelopes. The MAC Lower Band is the lowest value between the low of both Envelopes. The MAC Histogram Cloud fills the distance between two bands to show you change in direction. Blue Cloud indicates the uptren
Bermaui Pin Bars
Muhammad Elbermawi
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Bermaui Pin Bars   Or (BPB) is an indicator that finds Pin Bars price action pattern on the chart. Pin Bars is a shortcut for "Pinocchio Bars" which is a classic bar pattern alternative to Japanese candlesticks with tall upper or lower shadows and very small bodies like Hammer, Inverted-Hammer, Hanging Man, Shooting Star, Dragon Fly Doji or Grave Stone Doji. Bermaui Pin Bars indicator find this pattern depending on a formula that can be explained in the next steps: At first BPB calculate the
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Muhammad Elbermawi
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This is a price channel that shows five important price levels on the chart. Those levels are: 1. The Highest High (HH) of the previous x bars. 2. The Highest Low (HL) of the previous x bars. 3. The Center Line. 4. The Lowest High (LH) of the previous x bars. 5. The Lowest Low (LL) of the previous x bars. How does Bermaui Channels Captures Overbought  area Think of the distance between HH and HL levels as an overbought area. When the price candles or bars crosses the HL to the upside this
Horus EA
Muhammad Elbermawi
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Horus EA for MT4 Thousands of years ago, the ancient Egyptians invented a counting system that they used to measure their lands and weighing their commodities. This system was known as the " Eye of Horus ". The Eye of Horus was associated with the myth of the god Osiris and became one of the sacred symbols of the pharaohs. I used the mathematical equations in the Eye of Horus with the Fibonacci sequence to build a negative progression money management system that is 89% safer than the famous
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pornchai_p
639
pornchai_p 2023.06.04 04:21 
 

This is the best RSI indicator. HIghly recommnended. Please kindly send me the free Stochastic indicator. Thank you.

Hisham Ghoneim
301
Hisham Ghoneim 2022.08.18 10:39 
 

User didn't leave any comment to the rating

Suvashish Halder
38479
Suvashish Halder 2022.04.07 05:58 
 

Best RSI indicator in this market and it's a real deal. Thank you for your work ❤

Muhammad Elbermawi
52416
Reply from developer Muhammad Elbermawi 2022.04.07 08:20
You are welcome. Suvashish 🙏
faithdefender
1736
faithdefender 2022.02.12 21:05 
 

This man is just plain honest! I own three of his indicators and I cant complain. Bermaui Bands, TDO and now RSI Candles. I may not be making money, but the indicators do what he says they would do. And the price is fair especially in the light of 1000 activations compared to many of the sleazy Vendors who only give 5. And then they (other Vendors) turn around and lie to you saying "we are following the rules set by MQL and are prohibited from giving more than 5. Apparently, Mr. Elbimawri didnt get the memo. Nevertheless, why the lengthy review? I just purchased a different RSI indicator (because it was 10 bucks cheaper) and I have nothing but regrets. It is called "RSI As Bar". I sent the complaint to the Vendor the first hour, , but he never responded. Not only that, but he has pulled his indicator. If I go to the page, I now have a note that says "Unfortunately, "RSI as Bar" is unavailable." He will probably repackage it with a new name and sell it again to the public. Why? Because he can do it and get away with it since there is no accountability on this platform. MQL loves the vendors because it brings people to this venue, but to think of the people who have been ripped off! I hope Mr Elbermawi continues to come up with new ideas. And thank you for your honesty in value and indicators.

Muhammad Elbermawi
52416
Reply from developer Muhammad Elbermawi 2022.02.13 12:27
Thanks a lot for all the great words 🙏
cvdestyfx
2702
cvdestyfx 2021.03.09 17:33 
 

User didn't leave any comment to the rating

Muhammad Elbermawi
52416
Reply from developer Muhammad Elbermawi 2021.03.10 12:09
Thanks a lot, cvdestyfx 🤗
Livio Yves Chathuant
893
Livio Yves Chathuant 2020.12.26 04:44 
 

User didn't leave any comment to the rating

Baboloki Mathabe
604
Baboloki Mathabe 2020.10.31 14:31 
 

Author Mr Albermawi provides quality products this is an addition to the other tools got from him

Muhammad Elbermawi
52416
Reply from developer Muhammad Elbermawi 2020.10.31 18:14
Thanks a lot, Baboloki Mathabe 🤗
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