The RSI Super Limit Forex Scalper indicator for Metatrader 5 is based on the RSI technical indicator and delivers solid buy/sell signal alerts.
The indicator alerts appear in the main chart window as blue and red colored arrows.
It works best for scalpers and day traders during the most volatile trading sessions (London & USA) and on the lower spread Forex pairs.
- A blue arrow is a buy signal alert.
- A red arrow is a sell signal alert.
The following indicator inputs can be modified: RSI upper limit, RSI lower limit, RSI period, send email, audible alerts, push notifications.
Feel free to experiment with the RSI upper and lower limits.
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 Super Limit scalper indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The RSI Super Limit Forex Scalper Indicator?
Find a simple trading example below:
- A bullish signal occurs when the blue arrow appears on the chart.
- Open a buy order and place a stop loss below immediate support.
- Close the buy trade for 10-15 pips profit, or when the first red arrow appears on the chart.
- A bearish signal occurs when the red arrow appears on the chart.
- Open a sell order and place a stop loss above immediate resistance.
- Close the sell trade for 10-15 pips profit, or when the first blue arrow appears 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 AO oc.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