The RSI Hull Forex Signal indicator for Metatrader 5 is composed of the RSI and Hull indicators and it provides solid buy & sell signals.
It appears in a separate chart as a colored signal line that oscillates above and below the 50 level.
The indicator is beginner friendly and does not repaint the colored signal line.
How to trade with this technical indicator?
- A move back above the 50 level generates a buy signal.
- A move back below the 50 level generates a sell signal.
The following indicator inputs and parameters can be modified: RSI period, price smoothing period, Hull divisor, price, colors, style.
The RSI Hull Forex Signal indicator works for any trading instrument (Forex, Stocks, Indices, etc.) that can be loaded in the Metatrader 5 platform.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
It supports all time frames and Forex pairs.
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The following chart shows how the RSI Hull Forex Signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell FX Pairs With The RSI Hull Forex Signal Indicator?
Find a simple trading example below:
- A buy signal is given as soon as the RSI Hull signal line crosses the 50 level bottom up.
- Open a buy trade and place your protective stop loss below the previous swing low price.
- Exit the buy trade for a fixed take profit of hold the trade until a sell signal gets displayed on the chart.
- A sell signal is given as soon as the RSI Hull signal line crosses the 50 level top down.
- Open a sell trade and place your protective stop loss above the previous swing high price.
- Exit the sell trade for a fixed take profit of hold the trade until a buy signal gets displayed on the chart.
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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 Rsi(var)(Hull).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 in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration