BS RSI Price Following Forex Oscillator Indicator For MT4
The BS RSI Metatrader 4 Forex indicator is a price following oscillator that provides accurate trading signals for beginners.
This price following Forex oscillator ranges within -0.33 to 1.33 extreme values and comes with a recommended RSI period value of 5.
The indicator portrays how the market affects price and displays easy to use crossover signals that may point currency traders in the anticipated direction price will go.
- The indicator displays accurate buy/sell entry signals every time the lines of the BS RSI indicator crosses each other in the opposite direction.
- Works for scalping, day trading and swing trading.
- Easy to use, even for beginners.
Feel free to explore the BS RSI Forex Price Oscillator indicator’s different parameters and settings to create your own personalized indicator setup.
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BS RSI Price Following Forex Oscillator Indicator Chart (NZD/USD H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The BS RSI Price Oscillator MT4 Indicator
Buy Signal: Go long when the red line of the BS RSI MT4 indicator crosses above the slate gray line within the sub-window. Plus, when the sandy brown cloud of the Ichimoku Kinko Hyo indicator aligns somewhat below the price bars.
Sell Signal: Go short when the slat gray line of the BS RSI indicator crosses above the red line within the sub-window. Plus, when the thistle cloud of the Ichimoku Kinko Hyo indicator aligns fairly above the candlesticks.
Exit buy trade: Close all buy orders if while a bullish trend is running, the red line of the BS RSI indicator intersects the slate gray line to fall below the 0.5 horizontal level.
Else, the Ichimoku Kinko Hyo forms a thistle cloud.
Exit sell trade: Close all sell orders if while a bearish trend is on course, the slate gray line of the BS RSI Indicator intersects the red line to fall below the 0.5 horizontal level.
Else, the Ichimoku Kinko Hyo forms a sandy brown cloud.
Tips: The BS RSI Price Oscillator MT4 indicator provides a simplistic way to analyze trends.
It covers a wide-range of currency pairs and therefore quite appealing to investors within diverse markets.
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TF, period RSI.
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
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.