Forex Indicator RSI Filtered
An easy to use Forex trading indicator based on RSI + filter. The indicator displays up in a sub window under the main MT4 trading chart. Feel free to trial with the RSI period values. I prefer to use standards above 25. This reduces the amount of wrong signals. You can use the RSI Filter with an overbought/overrated oscillator (for example the Stochastic oscillator) for more precise entry and exit signals.
Buy signal: Wait for the RSI filter to turn orange from blue color.
Sell signal: Wait for the RSI filter to turn blue from orange color.
Currency pairs: any
Time frames: any
Trading sessions: any
Configurable Indicator Options
Colors, RSI period,…