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RSI Divergence Metatrader 4 Forex Indicator

    The RSI Divergence forex MT4 indicator scans and displays divergences between price and the RSI indicator.

    It looks for both bullish and bearish divergences.

    Use this indicator to trade low risk trend reversal trades in both bullish and bearish markets.

    RSI Divergence works best for scalping, day trading and swing trading.

    Free Download

    Download the “RSI_FWA.mq4” MT4 indicator

    Example Chart

    The EUR/USD M15 chart below displays the RSI Divergence forex indicator in action.

    Basic Trading Signals

    Trading signals from the RSI divergence indicator are simple to interpret and goes a follows:

    Buy Trade: Go long when bullish divergence occurs between price and the RSI indicator

    Sell Trade: Go short when bearish divergence occurs between price and the RSI indicator

    Download

    Download the “RSI_FWA.mq4” Metatrader 4 indicator

    MT4 Indicator Characteristics

    Currency pairs: Any

    Platform: Metatrader 4

    Type: chart pattern indicator

    Customization options: Variable (RSI Period, Icon, Levels) Colors, width & Style.

    Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours

    Type: Divergence

    Installation

    Copy and paste the RSI_FWA.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)