Rocket RSI Trend Reversal Indicator For MT5

The Rocket RSI Trend Reversal indicator for Metatrader 5 provides strong bullish and bearish trend reversal signals mainly based on the RSI indicator.

The indicator is also known as the Fisher Transform of Rocket RSI.

It appears in a separate chart window as an oscillator that creates red and green-colored trend reversal lines.

Buy & sell color scheme:

  • The green line represents a bullish trend reversal.
  • The red line represents a bearish trend reversal.

The following indicator inputs and parameters can be modified: period (10), smoothing, price, levels, color change mode, calculating mode.

Tip: For 1-minute and 5-minute chart traders, the indicator delivers the best results in the London and New York trading sessions.

Make yourself familiar with this technical indicator and test it first on a demo account for an extended period.

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Rocket RSI.mq5 Indicator (MT5)

Chart Example

The following chart shows what the Rocket RSI Trend Reversal indicator looks like when applied to the MT5 chart.

How To Buy And Sell Forex Pairs With The Rocket RSI Trend Reversal Indicator?

Find a simple trading example below:

Buy Signal

  • The green RSI Rocket line is a buy signal (see chart above).
  • Open a buy trade and place your stop loss a few pips below technical support.
  • Close the buy trade for a fixed profit target or exit the trade at key resistance levels.

Sell Signal

  • The red RSI Rocket line is a sell signal.
  • Open a sell trade and place your stop loss a few pips above technical resistance.
  • Close the sell trade for a fixed profit target or exit the trade at key support levels.

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Rocket RSI.mq5 Indicator (MT5)

Frequently Asked Questions

How Do I Install This Custom Indicator On Metatrader 5?

  • Open the MT5 trading platform
  • Click on the File menu button located at the top left part of the platform
  • Click on Open Data Folder > MQL5 folder > Indicators
  • Copy the Rocket RSI.mq5 indicator file in the Indicators folder
  • Close and restart the trading platform
  • You will find the indicator here (Navigator window > Indicators)
  • Drag the indicator to the chart to get started with it!

How Do I Edit This Indicator?

  • Click on the open chart with your right mouse button
  • In the dropdown menu, click on Indicator List
  • Select the indicator and click on the properties
  • Now you can edit the inputs, colors, levels, scale, and visualization
  • Finally, click the OK button to save the new configuration