Smoothed RSI Forex Signal for Metatrader 4 is a fantastic signal indicator that’s based on RSI + a smoothed digital filter.
The indicator gets displayed as a blue/gray/pink colored oscillator in the bottom window of the trading platform.
Buy & Sell Trade Example
- Open a buy trade position as soon as the indicator starts painting the blue colored line on the chart.
- Open a sell trade position as soon as the indicator starts painting the pink colored line on the chart.
The indicator can be used as a standalone trading tool for both trade entry & exit and works equally well for all currency pairs and any other MT4 trading instrument.
Free Download
Download the “Smoothed RSI.mq4” indicator for MT4
Indicator Chart (EUR/USD H4)
The picture below shows the Smoothed RSI Forex Signal mt4 indicator in action on the trading chart.
After you downloaded and installed the indicator (mq4 or ex4 format) on the MT4 trading platform, it should look like the image as shown above.
Trading Tips:
Utilize your own favorite trade entry, stop loss and take profit method when trading with the Smoothed RSI Forex Signal indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: RSI
Repaint? No.
