Dynamic RSI Zone With Bollinger Bands MT4 Indicator
The Dynamic RSI Zone with Bollinger Bands MT4 indicator is an easy to follow trend indicator based on RSI and Bollinger Bands.
Combined together, they form a very powerful trading indicator that’s very easy to trade and profitable.
The Bollinger Bands will signal trend direction and the RSI component will give you sniper accurate buy and sell trading signals.
The indicator is versatile and can be used for any trade style, from the M1 charts up to the daily currency charts.
Just load the Dynamic RSI Zone with Bollinger Bands indicator onto the Metatrader 4 chart and start trading with it in minutes.
- Works very well for low risk trade entry.
- Detects new trends in their early stages.
- Standalone Forex trading system.
- Simple to follow buy/sell signals, even for absolute beginners.
- Works for scalpers, day traders and swing traders alike.
Feel free to explore the Dynamic RSI Zone with Bollinger Bands indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Example Chart (AUD/JPY 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 Dynamic RSI Zone with Bollinger Bands MT4 Indicator
Buy Signal: Open a buy order when the green RSI signal line rises above the upper Bollinger Band. This is your buy entry signal.
Set your stop loss 1-3 pips below short-term support or nearest key support level, or use your own favorite stop loss method.
Close the buy trade when the RSI falls below the lower Bollinger Bands, or use your own favorite take profit method.
Alternatively, close the buy trade for a fixed profit target, for example, 20 pips on the 5-minute chart.
Sell Signal: Open a sell order when the green RSI signal line falls below the lower Bollinger Band. This is your sell entry signal.
Set your stop loss 1-3 pips above short-term resistance or nearest key resistance level, or use your own favorite stop loss method.
Close the sell trade when the RSI rises back above the upper Bollinger Bands, or use your own favorite take profit method.
Alternatively, close the sell trade for a fixed profit target, for example, 60 pips on the 1-hour chart.
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RSI period, bands period, 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
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.