The Turbo JRSX Metatrader 4 forex indicator is an overbought/oversold technical indicator that is based on the Turbo JRSX, Step-MA, and RSI filter.
The Turbo JRSX Indicator basically offers a low-risk trading approach, with buy/sell triggers that are based on trend retracement in the direction of the trend.
The indicator has an upper and lower signal levels, with both set at 70 and 30 marks, respectively.
When this happens, the gray line changes to red (when above the 70 mark) to indicate an overbought market condition, while an oversold condition is exemplified when the gray line changes to green (when below the 30 level).
The Turbo JRSX Indicator is quite helpful in alerting forex traders to good entry and exit points.
Free Download
Download the “turbo-jrsx-indicator.ex4” MT4 indicator
Indicator Chart (EUR/USD M15)
The EUR/USD M15 chart below displays the Turbo JRSX Indicator Metatrader 4 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the multicolored line of the Turbo JRSX Indicator Metatrader 4 forex indicator breaks above the 30.00 signal level.
Sell Signal: Go short when the multicolored line of the Turbo JRSX Indicator Metatrader 4 forex indicator breaks below the 70 level.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the multicolored line of the Turbo JRSX Indicator turns red.
Exit sell trade: Close all sell orders if while a bearish trend is running, the multicolored line of the Turbo JRSX Indicator changes to green.
Tips: Although the 30 & 70 levels are not marked within the Turbo JRSX Indicator window, traders can apply them using the horizontal line tool found on virtually all trade stations.
MT4 Turbo JRSX + SuperTrend NRP Forex Scalping Strategy
This strategy combines the Turbo JRSX MT4 Indicator with the SuperTrend NRP MT4 Indicator.
The Turbo JRSX shows a red line for bullish entries and a green line for bearish entries.
The SuperTrend NRP plots a trend line: green when the trend is up, and orange when the trend is down.
By using the trend filter from SuperTrend together with the JRSX signal line, this strategy aims to scalp intraday moves with clear confirmation.
This setup works well on intraday timeframes like M1 and M5, especially during active market hours.
It helps trade in the direction of the trend while capturing momentum shifts and reversals with tight entry rules.
Buy Entry Rules
- The SuperTrend NRP line must be green, indicating an uptrend.
- The Turbo JRSX line must turn red, signaling a buy entry.
- Enter a long trade as soon as the red Turbo JRSX line confirms and the SuperTrend is still green.
- Set a stop loss just below the recent swing low on the chosen timeframe.
- Exit when the Turbo JRSX line turns green (signal reversal), or when the SuperTrend line switches from green to orange (trend change).
Sell Entry Rules
- The SuperTrend NRP line must be orange, indicating a down‑trend.
- The Turbo JRSX line must turn green, signaling a sell entry.
- Enter a short trade when the green JRSX line confirms and SuperTrend remains orange.
- Place the stop loss just above the recent swing high.
- Take profit or exit when the JRSX line turns red, or when the SuperTrend switches from orange to green.
Advantages
- Trend alignment from SuperTrend helps avoid counter‑trend trades.
- Turbo JRSX gives clear, momentum‑based entries.
- Scalping on M1 and M5 allows many trade opportunities per session.
- Stop loss and exit are well-defined, making risk management straightforward.
- The combination filters out noise and weak signals by requiring both trend and signal to agree.
Drawbacks
- In very choppy or ranging markets, SuperTrend may flip often, causing false trades.
- The JRSX signal line may lag slightly during fast price spikes, leading to delayed entries or exits.
- Exiting only when the signal line reverses or trend changes may give back a portion of the gains.
- This strategy requires constant attention, especially on M1, where trades develop quickly.
Example Case Study 1
On EUR/USD M5 during the London session, the SuperTrend NRP line was green, signaling a bull trend.
The Turbo JRSX line then turned red.
A long position was opened at candle close, with a stop loss 7 pips below the recent swing low.
After several candles, the JRSX line turned green again, reversing the signal, and the trade was closed for a profit of about 12 pips.
Example Case Study 2
On GBP/CHF M1 during New York hours, the SuperTrend line turned orange, indicating a downtrend.
The Turbo JRSX line flipped to green, giving a sell signal.
A short position was taken at candle close, with a stop loss 8 pips above the swing high.
The price dropped steadily, and the trade was exited when the SuperTrend turned green, capturing around 15 pips.
Strategy Tips
- Focus on times when the market is most volatile, such as London or New York, to get stronger price action and better signal clarity.
- If SuperTrend is flat or hesitating, skip trades because the trend strength is not clear enough.
- Use small position sizes since scalping involves tight stop losses and quick trades.
- Wait for the JRSX line to clearly change color only after SuperTrend confirms the trend.
Download Now
Download the “turbo-jrsx-indicator.ex4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (Len, UpperLevel, LowerLevel, p, p0, p1, p2, p3, p4, p5, p6, PriceMode), width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend | overbought/oversold
