The indicator is much like the normal RSI indicator, but with 8 lines representing each of the major currencies: AUD CAD CHF EUR GBP JPY NZD USD.
The calculations for each line are made by the cumulative averaged RSI values of a major currency.
Take the JPY for example:
The Indicator collects the RSI values of the EURJPY, GBPJPY, AUDJPY, USDJPY, NZDJPY, CADJPY, CHFJPY. It then adds up all the RSI values of the JPY pairs and averages them, then plots them like the normal RSI.
It does that for the other major currencies and plots those values on the indicator chart.
Of course, it works on 4 and 5 digit brokers and it also works if the symbols have a prefix or suffix. The indicator also includes an optional sound alert and message box alert when any line is overbought
and another line is oversold according to the levels selected.
User inputs: All the same inputs as the normal RSI.
How to get it
This indicator is not distributed through MQL5 Market. To get a copy, send us a request with the subject “RSI Multicurrency MT4” and we will reply with the details.
Need this customised?
If you need this indicator adapted to your own rules — different levels, an extra filter, a version for MT5, or the same logic built into an expert advisor that trades it — we build custom MetaTrader tools to specification. See our expert advisor programming service or request a free quote.