The RSI MA Forex Signal indicator for Metatrader 5 is a powerful buy/sell trading system that combines RSI and moving averages.
The indicator tries to identify the best trend reversal prices in exhausted currency trends.
The trades are low risk in nature with good profit potential.
Essentially, the programmer transformed price action into easy to trade buy and sell arrows.
- A buy arrow marks a bullish trend reversal.
- A sell arrow marks a bearish trend reversal.
The following indicator inputs can be fully adjusted: RSI period, RSI levels, MA buy period, MA sell period.
Feel free to experiment with the indicator’s various parameters.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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The following chart shows how the RSI MA Forex Signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The RSI MA Forex Signal Indicator?
Find a simple trading example below:
- A blue arrow is a buy signal.
- Open a buy order and place your stop loss below the most recent low.
- Close the buy trade for a reward/risk ratio of at least 1.7, or wait for a sell trade arrow.
- A red arrow is a sell signal.
- Open a sell order and place your stop loss above the most recent high.
- Close the sell trade for a reward/risk ratio of at least 1.7, or wait for a buy trade arrow.
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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 ma ind mt5.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