Velvet RSI is intended for use with the Velvet advanced ordering layer. It is a modified version of the RSI indicator provided by Metaquotes and all of the data it displays is accurate and verified, when it is detected by the ordering layer. In order to place orders with the Velvet RSI indicator, the ordering layer must be installed and running. Ordering from the Velvet RSI indicator requires that "Velvet Ordering Layer" ( found here ), version 1.0 or higher, be installed and running.
When detected, the Velvet ordering layer will display the message "Velvet Enabled" and you will be able to place orders in the symbol the RSI indicator is attached to with trendlines marked on the indicator itself with the exact description "Buy Above", "Buy Below", "Sell Above", or "Sell Below". Future versions of the ordering layer may add additional functionality to the description string.
Please be careful when moving trendlines marked to place an order --- trades may be triggered if you move the trendline such that the price or the value of the indicator goes "Above" or "Below" the trendline.
All velvet indicators must be placed into the "velvet" (case-sensitive, all lower case) directory in the "Indicators" folder for security purposes. You will have to make the folder yourself if you have never used velvet before.
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