Slope Scanner (RSI) V1.4 MT4 MT5
The SlopeScanner(RSI) V1.4 is a versatile tool designed to help traders monitor trend direction across multiple currency pairs and timeframes by analyzing the slope of the Relative Strength Index (RSI). Unlike traditional RSI applications, this dashboard focuses on momentum shifts and changes in slope, providing early insight into potential trend reversals or continuations before conventional overbought/oversold signals appear.
✅ Key Features
| Feature | Description |
|---|---|
| ➤ Multi-Pair Monitoring: | Track multiple currency pairs in a single, consolidated dashboard. |
| ➤ Multi-Timeframe Analysis: | Evaluate trend momentum across various timeframes (M1 through MN1). |
| ➤ Smart Trend Detection: | Identify turning points based on RSi slope changes & OB or OS conditions. |
| ➤ Customizable RSI: | Set your preferred RSi period - OB & OS levels. |
| ➤ Real-Time Alerts: | Get Metatrader alerts immediately when slope direction changes |
| ➤ Color-Coded Visuals: | Easy-to-interpret color signals indicating bullish, bearish, overbought (OB), oversold (OS) or neutral trends. |
| ➤ Clean & Compact Layout: | Well-organized display that fits neatly on your chart without clutter. |
💡 How It Works
The Relative Strength Index (RSI) is a widely used momentum indicator that measures the speed and magnitude of price movements. It helps traders identify overbought and oversold conditions—typically, readings above 70 suggest the market may be overbought, while readings below 30 indicate potential oversold conditions. By monitoring these levels, traders can better gauge when a trend may be losing momentum or primed for a reversal.
The dashboard instantly highlights changes in the RSI slope with a distinct color, signaling potential trend reversals or shifts in momentum. When the RSI enters overbought or oversold territory, this is clearly marked, enabling you to spot market extremes at a glance. These slope-based alerts often appear before traditional signals, giving you an early read on market dynamics and the chance to act ahead of the crowd.
⚙️ Input Parameters
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