The RSI of Super Trend Forex indicator for Metatrader 5 delivers awesome buy/sell signals and it’s based on RSI + the popular Super Trend indicator.
The indicator appears in a separate chart window as a green & red colored oscillator line.
RSI of Super Trend works best for scalpers and day traders looking for 10-25 pips profit per trade.
How to spot market trends with the indicator?
- A green line indicates a short-term bullish trend.
- A red line indicates a short-term bearish trend.
The indicator works for any time frame, trading instrument and is newbie friendly.
The indicator has the following inputs and parameters: RSI period, super trend period, price, standard deviation period, calculation method.
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 of Super Trend indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The RSI of Super Trend Forex Indicator?
Find a simple trading example below:
- A buy signal is given when the green RSI of Super Trend line gets displayed in the bottom chart (see chart above).
- Open a buy order and place your stop loss below the most recent swing low zone.
- Close the buy trade for a fixed take profit target of your preference.
- A sell signal is given when the red RSI of Super Trend line gets displayed in the bottom chart.
- Open a sell order and place your stop loss above the most recent swing high zone.
- Close the sell trade for a fixed take profit target of your preference.
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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 of super trend – simple.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