The Flat Trend RSI Filter Forex MT4 indicator is based on RSI and a trend filter for accurate future trend prediction.
It displays buy and sell trends in the form of colored trend bars that appear underneath the main MT4 chart.
I suggest to use it for trade entry and exit or as a confirmation tool for your existing trading strategy or system.
Just load the Flat Trend RSI Filter Forex indicator onto the Metatrader 4 chart and start trading with it in minutes.
Key Takeaways
- Blue colored trend bars suggest an uptrending market.
- Red colored trend bars suggest a downtrending market.
- Fits all currency pairs and timeframes of your preference.
- Does not repaint any trend bars.
- Works for scalping, day trading and swing trading.
Feel free to explore the Flat Trend RSI Filter Forex indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Download the “Flat_Trend_RSI.ex4” Metatrader 4 indicator
Indicator Example Chart (EUR/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 Flat Trend RSI Filter Forex MT4 Indicator
Buy Signal: Execute a long trade when the first blue histogram bar pops up on the chart. This is your buy entry signal.
Place your stop loss below support, or use your own favorite stop loss strategy.
Exit the buy trade when the trend bars reverse back to red color.
Alternatively, exit the buy trade for a reward/risk ratio of 1.5 or better.
Sell Signal: Execute a short trade when the first red histogram bar pops up on the chart. This is your sell entry signal.
Place your stop loss above resistance, or use your own favorite stop loss strategy.
Exit the sell trade when the trend bars reverse back to blue color.
Alternatively, exit the sell trade for a reward/risk ratio of 1.5 or better.
Download This Forex Indicator Now
Download the “Flat_Trend_RSI.ex4” MT4 indicator
Input Parameters
Period RSI, colors, width, style.
More Info About This Indicator
Recommended Currency Pairs: any
Trading Platform: MT4
Time Frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: trend
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
Conclusion
The Flat Trend RSI Filter Forex MT4 indicator is worth trying it out. Just add it to your chart.
It’s a great trend indicator, but please keep in mind that its performance will vary depending on currency market conditions and other factors.
Use on a demo account first to make yourself familiar with this trading tool!
