The Adaptive RSI Forex indicator can be used to identify important overbought and oversold levels on the MT4 chart.
The indicator works very well in combination with a trend-following indicator.
For instance, combine the Adaptive RSI indicator with a simple or exponential Moving Average, Bollinger Bands,…
Overbought and oversold levels:
- An overbought level occurs when the Adaptive RSI indicator reaches the top of its sub-window chart.
- An oversold level occurs when the Adaptive RSI indicator reaches the bottom of its sub-window chart.
Trade the Adaptive RSI in agreement with the overall trend.
- Trade oversold signals when the trend is up and the Adaptive RSI indicator reaches the bottom of the chart.
- Trade overbought signals when the trend is down and the Adaptive RSI indicator reaches the top of the chart.
Deploy this overbought/oversold Forex oscillator for scalping, day trading and swing trading.
Download This MT4 Forex Indicator Free
Download the “adaptive-rsi-indicator.ex4” Metatrader 4 indicator
Adaptive RSI Forex Signals Indicator Chart
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
You can apply the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Triggers With Adaptive RSI Forex Technical Analysis Chart Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Initiate a buy trade when the Adaptive RSI indicator reaches oversold territory and the overall trend is up.
Place a stop loss below previous swing low support, or use your own stop loss strategy.
Aim for reward/risk 1.8:1 ratio or better, or use your own favorite take profit method.
Sell Trigger: Initiate a sell trade when the Adaptive RSI indicator reaches overbought territory and the overall trend is down.
Place a stop loss above previous swing high resistance, or use your own stop loss strategy.
Aim for reward/risk 1.8:1 ratio or better, or use your own favorite take profit method.
Download This Forex Indicator Now
Download the “adaptive-rsi-indicator.ex4” MT4 indicator
Adjustable Parameters
ARSI period, colors, width, style.
Usage
Combine with:
- Trend indicators (Moving Average, Bollinger Bands, ADMI,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: oscillator
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
