The Kosher RVI Forex Oscillator for Metatrader 4 follows the trend and delivers solid trading signals for both scalpers and day traders.
The indicator appears in a bottom chart as two signal lines that cross each other above and below the zero line.
Price action above the zero line is bullish while bearish below.
You can easily combine this indicator with additional technical indicators (for example, with moving averages).
General Information
- Works well for scalpers and day traders
- Provides short-term trend direction
- Cross-over trading system
- Works for any Forex pair
- Does not repaint
- Developed for Metatrader 4
Free Download
Download the krvi.mq4 indicator file (MT4)
Indicator Chart Example
The picture below shows the Kosher RVI Forex Oscillator indicator attached to the British Pound / U.S. Dollar M5 chart.
How to use this Forex indicator?
This Forex indicator can be used in multiple ways, find an example below:
Buy Signal:
- Open a buy order when both signal lines cross back above the zero level (bullish price action).
- Place a stop loss 3 pips below short-term support.
- Exit the buy trade for a fixed profit target (for example, +20 pips on the M5 chart).
Sell Signal:
- Open a sell order when both signal lines cross back below the zero level (bearish price action).
- Place a stop loss 3 pips above short-term resistance.
- Exit the sell trade for a fixed profit target (for example, +30 pips on the M15 chart).
How to install the Kosher RVI Forex Oscillator indicator to the Metatrader 4 platform?
- Download the krvi.mq4 indicator file here and save it to your computer
- Open your Metatrader 4 platform
- Click on “File” (top menu) and then select “Open Data Folder” from the drop down menu
- Click on “MQL4” and open the “Indicators” folder
- Paste the indicator file in this folder
- Restart Metatrader 4 and you’re ready to start using the indicator
How to edit the indicator?
- Attach the indicator to any trading chart of your preference
- Right click in the chart and select “Indicators List” from the drop down menu
- Select the indicator from the list and click on “Edit”
- Now you can start editing the indicator (Inputs, Colors and Visualization)
- Final step, click on the “OK” button to save the new configuration
