As the indicator’s name suggests, the Delta with RSI indicator is based on a combination of two indicators: the Delta MT4 indicator and the popular RSI technical indicator.
The Delta RSI MT4 indicator helps in identifying profitable buy/sell trend trading opportunities at its early stage.
So, you can ride the new bull or bear trend for good profit.
The indicator draws a green buy and red sell bar histogram underneath the main trading chart.
Key Takeaways
- Green Delta RSI indicator bars printed above the zero level indicate a bullish trend.
- Red Delta RSI indicator bars printed below the zero level indicate a bearish trend.
- Easy to trade, even for absolute beginners.
Feel free to explore the Delta RSI Forex Signals MT4 indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Download the “delta-rsi-indicator.ex4” Metatrader 4 indicator
Indicator Example Chart (USD/CHF M30 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 Delta RSI Forex Signals MT4 Indicator
Buy Signal: Open a buy trade when the first green Delta RSI indicator bar appears on the trading chart.
Place stop loss 3 pips below short-term support, or use your own favorite SL method.
Close the buy trade when the first red Delta RSI indicator bar appears on the MT4 chart (close and reverse the trade), or use your own favorite take profit method.
Alternatively, close the buy trade for a reward/risk ratio of 1.5 or better.
Sell Signal: Open a sell trade when the first red Delta RSI indicator bar appears on the trading chart.
Place stop loss 3 pips above short-term resistance, or use your own favorite SL method.
Close the sell trade when the first green Delta RSI indicator bar appears on the MT4 chart (close and reverse the trade), or use your own favorite take profit method.
Alternatively, close the sell trade for a reward/risk ratio of 1.5 or better.
Download This Forex Indicator Now
Download the “delta-rsi-indicator.ex4” MT4 indicator
Adjustable Parameters
Fast RSI period, slow RSI period, signal level, bar, colors, width, style.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: trend signals
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
