Using Colored Markers to Show RSI Histogram Direction

Summary

XRSI_Histogram_Vol_Direct is described as an indicator that marks the direction of movement in histogram bars with colored icons. Its stated purpose is to make changes in the bars’ direction easier to see while reviewing a chart. The document refers to a supporting smoothing-algorithm library needed by the indicator, but does not explain the underlying RSI calculation, the role of volume, or how the histogram is constructed.

The source provides no trading rules, parameter guidance, examples beyond a figure reference, or performance evidence. It is therefore a narrow description of a visual charting aid rather than a complete strategy. Traders would need to inspect the indicator’s implementation and evaluate any signals independently before using it in systematic decisions.

Key ideas

• The indicator uses colored icons to show histogram bar direction.
• It relies on a separate smoothing-algorithm library.
• The description gives no entry, exit, or risk rules.
• No performance evidence or detailed explanation of the histogram calculation is supplied.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.