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Indicator Operation Principle
The arrows are drawn in the following case:
BUY:
RSI is higher than the upper level (determined by RSILowerLevel). With the default settings - above 40.
CCI is below the lower level. With the default settings - below -200
If CheckLastRSIZone is enabled, then the last overbought/oversold zone of the RSI is checked by the (RSILowerLevel_2) level.
If ReverseRSIZone=false, for the arrow to appear, the last zone to be above the upper level, with the default settings - above 70.
If ReverseRSIZone=true, the last value of RSI must be a value lower than the lower level, with the default settings - below 30.
SELL:
Similarly, but in reverse.
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Indicator Parameters
RSIPeriod - RSI period.
RSIPrice - RSI price: 0-Close, 1-Open, 2-High, 3-Low, 4-Median, 5-Typical, 6-Weighted.
RSILowerLevel - the lower level of RSI, the upper level is defined as 100-RSILowerLevel. RSI below the lower level is considered a bearish trend, above the upper level - bullish.
RSILowerLevel_2 - the lower level of RSI, used for determining the last overbought or oversold zone. The upper level is defined as 100-RSILowerLevel_2.
CheckLastRSIZone - check the last overbought/oversold zone of RSI.
ReverseRSIZone - reverse the last overbought/oversold zone of RSI.
CCIPeriod - CCI period
CCIPrice - CCI price: 0-Close, 1-Open, 2-High, 3-Low, 4-Median, 5-Typical, 6-Weighted.
CCILevel - the upper level of CCI. The lower level is equal to - CCILevel.
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