The RSI MA Signals Oscillator Metatrader 4 forex indicator is composed of the RSI and moving average trading indicator.
The indicator oscillates between 0 and 100 readings.
Between 0 and 30 readings are considered to be oversold while readings between 70 and 100 are considered to be overbought.
It’s strongly recommended to use it together with a trend following forex indicator.
In up trending markets, wait for the indicator to fall below 30 and then cross back up above 30, this is a signal to go long.
Conversely, in down trending markets, wait for the indicator to rise above 70 and then cross back down below 70, this is a signal to go short.
Use this indicator for scalping, day trading and swing trading.
The EUR/USD H1 chart below displays the RSI MA Signals Oscillator forex indicator in action.
Basic Trading Signals
Signals from the RSI MA Signals Oscillator forex MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Open buy position when indicator readings fall below 30 and then rise back above 30.
Sell Signal: Open sell position when indicator readings rise above 70 and then fall back below 70.
Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (RSI, MA, Cbars) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the sgmar.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)