SRC Indicator (MT4 Version)
Smoothie RSI Cloud (SRC Indicator) is a hybrid version of standard RSI which is a very powerful indicator that has every feature like the standard RSI.
SRC Indicator : The Relative Strength Index (RSI) is a momentum indicator used in technical analysis that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of any financial asset. The RSI is displayed as an oscillator (a line graph that moves between two extremes) and can read from 0 to 100. The indicator was originally developed by J. Welles Wilder Jr. and was introduced in his seminal 1978 book, “New Concepts in Technical Trading Systems.”
Smoothie RSI Cloud (SRC Indicator) is a hybrid version of that same standard RSI which is a very powerful indicator that has every feature like the standard RSI. For exampleit provides technical information about bullish and bearish price momentum, and is often plotted in “Existed pane below”. An asset is usually considered overbought when the SRC is above 70 and oversold when it is below 30.
A bullish divergence occurs when the SRC create an oversold reading followed by a higher low that matches correspondingly lower lows in the asset price. This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position. A bearish divergence occurs when the SRC creates an overbought reading followed by a lower high that matches corresponding higher highs on the price.
This indicates weakness in the trend and bearish momentum getting stronger which can signal for a new short position. Being an advanced form of regular RSI our indicator usages some well-known other calculations like weighted moving average (WMA) which determines trend direction more accurately than the simple moving average (SMA). And it assigns identical weights to all numbers in the data set. The smoothed period is also used which we can also set manually from setting and they all are calculated together with RSI value to make this wonderful indicator work in action.
It has beautiful colored clouds that aware market players of the current market sentiment & momentum. Light blue color indicates bullish sentiment situation or bullish momentum strengthening and light red color indicates bearish sentiment situation or bearish momentum strengthens. Those can be used to judge the optimistic or pessimistic mode of the overall market in that period of time. SRC lines are advance and it reflects light blue when the actual price of the asset is appreciating and its color change into light red when the actual price of assets is devaluing. The vertical transparent red color on the indicator indicates the SRC line crossing above or below 70 or 75 overbought lines. While the light blue color indicates the SRC line crossing lower or above 30 or 25 of the oversold level.
WHAT’S THE BENEFIT OF USING SRC?
- Measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of any financial asset.
- Provides technical traders with information about bullish a bearish potential price momentum.
- Divergence detector in any financial market.
- Standard RSI calculation in conjunction with weighted moving average (WMA) and smoothing period functions.
- Beautiful coloured clouds that aware market players of the current market sentiment or momentum of any given asset price.
- Vertical transparent colors over SRCs line indicating SRCs line crossing above or below a certain threshold of two extremes levels of the oscillator indicator
- SRC “Smooth relative could”shows overbought & oversold areas.
- Notifies about momentum-shifting.
- The advanced version of RSI.
- Alert feature.
- Available in Metatrader 4.
- All currency pairs.
- More than 80% winning rate.
- Non repaint indicator.
1 indicator ex4 / 1 user manual pdf