The RSI Bands Forex Trend Signals MT4 indicator was developed to find the best market entry points before the trend turns into the opposite direction.
As the name implies, the indicator is built up of the RSI indicator and Bollinger Bands with a moving average.
This custom MT4 indicator appears in a separate MT4 window.
Buying and selling pairs with this indicator is very easy and profitable in the long run.
Just load the RSI Bands Forex Trend Signals indicator onto the Metatrader 4 chart and start trading with it in minutes.
Key Takeaways
- A bullish trend occurs when the RSI and Moving Average cross above the middle Bollinger Band.
- A bearish trend occurs when the RSI and Moving Average cross below the middle Bollinger Band.
- Utilize for scalping, day trading and swing trading.
Feel free to explore the RSI Bands Forex Trend Signals indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Download the “fozzy-alert.ex4” Metatrader 4 indicator
Indicator Chart (USD/CAD 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 RSI Bands Forex Trend Signals MT4 Indicator
Buy Signal: Open a buy order as soon as the RSI + Moving Average cross above the middle Bollinger Band (see chart above).
Set the stop loss 5 pips below the entry candlestick, or use your own favorite stop loss strategy.
Close the buy trade for a fixed profit target of your preference, or wait until you get an opposite sell signal.
Sell Signal: Open a sell order as soon as the RSI + Moving Average cross below the middle Bollinger Band.
Set the stop loss 5 pips above the entry candlestick, or use your own favorite stop loss strategy.
Close the sell trade for a fixed profit target of your preference, or wait until you get an opposite buy signal.
Download This Forex Indicator Now
Download the “fozzy-alert.ex4” MT4 indicator
Adjustable Parameters
RSI period, RSI MA period, bands period, bands deviations, 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
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.