The RSI Oscillator Indicator with Hann Filter indicator for Metatrader 5 is a technical Forex oscillator that provides trend trading signals.
The indicator appears in a separate chart window as a colored signal line that oscillates above and below zero.
The Hann Filter eliminates most whipsaw signals against the overall trend.
Trend direction revealed:
- A bullish trend occurs when the signal line oscillates above zero.
- A bearish trend occurs when the signal line oscillates below zero.
The following indicator inputs can be adjusted to suit your personal preferences: period, and price.
First, familiarize yourself with this technical indicator and test it on a demo account.
It supports all time frames, Forex pairs, and any other trade instrument.
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Rsi with Hann.mq5 Indicator (MT5)
Chart Example
The following chart shows how the RSI Oscillator Indicator with Hann Filter indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The RSI Oscillator Indicator With Hann Filter Indicator?
Find a simple trading example below:
Buy Signal
- The indicator must oscillate above the zero level and the blue signal line appears on the chart.
- Open a buy order and set the initial stop loss below support.
- Exit the buy trade for a fixed take profit target of your preference, or wait for a sell signal.
Sell Signal
- The indicator must oscillate below the zero level and the orange signal line appears on the chart.
- Open a sell order and set the initial stop loss above resistance.
- Exit the sell trade for a fixed take profit target of your preference, or wait for a buy signal.
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Rsi with Hann.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 Rsi with Hann.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