The Cronex T RSI Bollinger Bands Metatrader 4 is composed of RSI, Bollinger Bands and a moving average with default period 10.
The indicator oscillates above and below its zero level in a separate chart window below the main activity chart.
The indicator can be used in multiple ways to generate tradable buy and sell signals.
Method 1 (good for scalping, day trading and swing trading)
Trading the orange thick indicator line:
Orange line above the zero level: bullish, look to buy.
Orange line below the zero level, bearish, look to sell.
Method 2 (good for scalping)
Blue histograms above the zero line: look for short-term buy signals.
Red histograms below the zero line: look for short-term sell signals.
The EUR/USD H1 chart below displays the Cronex T RSI Bollinger Bands forex indicator in action.
Basic Trading Signals
See description above on how to trade this indicator (method1 & method2).
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (RSIPeriod, TCurvature, MAPeriod, BandsPeriod, BandsDeviations, BandsShift) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Signals | Oscillator
Copy and paste the cronex-t-rsi-bb.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)