Fan With RSI Forex Profit MT4 Indicator
The Fan with RSI Forex Profit indicator for Metatrader 4 is a beautifully colored trend RSI indicator that delivers promising results.
It combines RSI with a colored Guppy Fan indicator to deliver optimal trade entry when the market is in extreme RSI territory.
From our testings, we won 7 out of 10 trades with this indicator for a total of 128 pips profit (2 days trading).
Just load the Fan with RSI Forex Profit indicator onto the Metatrader 4 chart and start trading with it in minutes.
- A new buy trend occurs when the Guppy Fan goes above the RSI 70 value.
- A new sell trend occurs when the Guppy Fan goes below the RSI 30 value.
- Works great for scalping the 5-minute charts during London and US market sessions.
- Any trade style allowed.
Feel free to explore the Fan with RSI Forex Profit indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Indicator Example Chart (EUR/USD M5 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 Fan with RSI Forex Profit MT4 Indicator
Buy Signal: Go long whenever the colored Guppy Fan closes above the RSI 70 extreme overbought level.
Set your stop loss 5 pips below the previous swing low support level, or use your own favorite stop loss method.
Exit the buy position for a fixed profit target of your preference, 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: Go short whenever the colored Guppy Fan closes below the RSI 30 extreme oversold level.
Set your stop loss 5 pips above the previous swing high resistance level, or use your own favorite stop loss method.
Exit the sell position for a fixed profit target of your preference, 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
Period 1, method, K, N, RSI, Alerts, 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 +RSI
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.