The RSI Triple Stochastic Divergence Forex indicator for MetaTrader 4 combines the RSI and a triple Stochastic oscillator with built-in divergence detection.
Using these indicators, it generates clear buy and sell signals that are especially effective for scalping and day trading strategies.
Displayed in a separate chart window, the indicator shows a red and blue oscillator that is simple to interpret, making it suitable even for beginner traders.
Key Features:
- Ideal for scalping forex markets
- Effective for day trading
- Non-repainting signals for reliable trading
- A valuable addition to any trader’s toolkit
- This versatile indicator can easily complement any existing trading strategy or system.
Free Download
Download the “rsi-triple-stochastic-divergence.ex4” MT4 indicator
Example Chart
The EUR/USD 30-minute chart below shows the RSI Triple Stochastic Divergence indicator in action.
Buy/Sell Trading Signals
BUY:
- A buy signal is given when the RSI Triple Stochastic Divergence turns blue (bullish signal).
- Place a stop loss below short-term support.
- Exit the buy trade for a predetermined profit target or wait for an opposite color to appear on the chart.
SELL:
- A sell signal is given when the RSI Triple Stochastic Divergence turns red (bearish signal).
- Place a stop loss above short-term resistance.
- Exit the sell trade for a predetermined profit target or wait for an opposite color to appear on the chart.
Download Now
Download the “rsi-triple-stochastic-divergence.ex4” MT4 indicator
RSI Triple Stochastic Divergence Strategy with 200 EMA Trend Filter
The RSI Triple Stochastic Divergence Indicator MT4 helps identify powerful divergence signals between price and momentum oscillators.
To increase the accuracy of trades, this strategy incorporates the 200 EMA as a trend direction filter.
Chart Setup
- Primary Indicator: RSI Triple Stochastic Divergence Indicator MT4
- Trend Filter: 200 Exponential Moving Average (EMA)
- Timeframe: 1-hour (H1) or 4-hour (H4)
- Currency Pairs: Major pairs like EUR/USD, GBP/USD, USD/JPY
Buy Setup
- Price is above the 200 EMA, indicating an overall uptrend.
- The RSI Triple Stochastic Divergence Indicator shows a bullish divergence (price makes a lower low while the indicator makes a higher low).
- Enter a buy trade at the close of the confirmation candle following the divergence signal.
Sell Setup
- Price is below the 200 EMA, indicating an overall downtrend.
- The RSI Triple Stochastic Divergence Indicator shows a bearish divergence (price makes a higher high while the indicator makes a lower high).
- Enter a sell trade at the close of the confirmation candle following the divergence signal.
Stop Loss and Take Profit
- Stop Loss: Place just below the recent swing low for buy trades or just above the recent swing high for sell trades.
- Take Profit: Target a minimum risk-to-reward ratio of 1:2 or key support/resistance zones.
Additional Advice
- Confirm the trend on higher timeframes for better trade reliability.
- Avoid trading during high-impact news events to minimize risk.
- Use this strategy in trending markets for optimal performance.
Adjustable Indicator Settings
RSI period, RSI price, RSI alerts, stochastic, triple stochastic K period, triple stochastic slowing, triple stochastic, price, alerts, divergence options, colors, style
Feel free to explore the indicator’s different parameters and settings to create your personalized indicator setup.
Technical Information
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: RSI + Stochastic
How to install the RSI Triple Stochastic Divergence indicator in Metatrader 4?
- Copy and paste the rsi-triple-stochastic-divergence.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
