The RSISignal forex MT4 indicator is an buy/sell indicator based on moving averages and RSI.
The indicator can be used in various ways and has a lot of options for customization.
The RSISignal indicator displays and histogram with green and red bars on it, green bars for bullish price movement and red bars for bearish price movement.
Scalpers, day traders, swing traders and position traders can benefit from this indicator.
The EUR/USD M15 chart below displays the RSISignals forex indicator in action.
Basic Trading Signals
The RSISignals indicator can be used in various ways, please take a look at the indicator’s input tab for more information.
I will show you the most easy way to start trading with this indicator:
Buy Trade: Open buy trade when green bars form above the 0.00 level
Sell Trade: Open sell trade when red bars from below the 0.00 level
Exit Trade: Exit an open trade at an opposite signal or use your own preferred exit method
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (RSI1 Period, RSI2 Period, RSI3 Period, RSI Price, Overbought Level, Oversold Level, MA1 Period, MA2 Period, RSI Lines, Histograms, Arrows, Alerts) 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 RSISignal.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)