The Waddah Attar RSI Level indicator for MT4 displays the most important RSI levels on the main trading chart and can be used for precise entry into trades.
The indicator dynamically updates all RSI levels based on daily price chart data.
In essence, this RSI-type technical indicator transforms RSI price data into a powerful indicator of buy/sell entry levels.
Key Points
- Displays all important RSI levels
- Works on daily chart price data
- Dynamically updates all RSI levels
- Works well for trade entry in any market
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a simple buy/sell entry confirmation tool.
Free Download
Download the “Waddah_Attar_RSI_Level.mq4” MT4 indicator
Indicator Example Chart
The EUR/USD 1-hour chart below shows the Waddah Attar RSI Level indicator in action.
Basic Trading Signals
Signals from the Waddah Attar RSI Level Indicator for Metatrader 4 are easy to interpret and go as follows:
BUY:
- Open a long trade when the price touches the green RSI 60 level from below.
- Place a stop loss below the previous swing low level.
- Take profit at the RSI 80 level or deploy your own take profit method.
SELL:
- Open a short trade when the price touches the red RSI 40 level from above.
- Place a stop loss above the previous swing high level.
- Take profit at the RSI 20 level or deploy your own take profit method.
Download Now
Download the “Waddah_Attar_RSI_Level.mq4” MT4 indicator
MT4 Trading Strategy: BOS CHoCH + Waddah Attar RSI Level
This strategy combines the BOS CHoCH MT4 Indicator for structural break confirmation with the Waddah Attar RSI Level Indicator for momentum validation.
It works well on major forex pairs and higher timeframes such as H1 or H4.
Indicators Used
- BOS CHoCH Indicator: Identifies Break of Structure (BOS) and Change of Character (CHoCH) to signal trend direction shifts.
- Waddah Attar RSI Level: Measures RSI momentum and overlays it with level-based conditions to spot overbought/oversold zones.
Buy Trade Setup
- Wait for a CHoCH to the upside on the BOS CHoCH indicator (indicating a shift from bearish to bullish structure).
- Confirm that the Waddah Attar RSI Level line is rising and crosses above the 50 level, indicating increasing bullish momentum.
- Enter a buy position at the candle close after both conditions are met.
- Set stop loss below the most recent swing low.
- Target a 1:2 or 1:3 risk-reward ratio or use key resistance levels for take profit.
Sell Trade Setup
- Wait for a CHoCH to the downside on the BOS CHoCH indicator (indicating a shift from bullish to bearish structure).
- Confirm that the Waddah Attar RSI Level line is falling and crosses below the 50 level, signaling bearish momentum.
- Enter a sell position at the candle close after both conditions are met.
- Set stop loss above the recent swing high.
- Target a 1:2 or 1:3 risk-reward ratio or key support levels for take profit.
Tips for Best Results
- Use this strategy on H1 or H4 charts for better accuracy and reduced noise.
- Avoid trading during major news releases or low liquidity periods.
- Always confirm setups with at least two confluences: structural break and RSI level alignment.
This strategy helps filter out false breakouts by combining structural and momentum analysis.
Try it with the BOS CHoCH Indicator and the Waddah Attar RSI Level Indicator for more confident trade entries.
Adjustable Parameters & Settings
RSI day period, extra level
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: works on any time frame
Indicator Type: RSI
Final Thoughts
The Waddah Attar RSI Level Indicator for MetaTrader 4 is a versatile tool that enhances trading strategies by integrating Relative Strength Index (RSI) levels directly onto the main chart.
By dynamically updating key RSI levels—such as 20, 30, 50, 70, and 80—it provides traders with clear visual cues for potential overbought or oversold conditions.
This feature aids in identifying optimal entry and exit points, making it a valuable addition to any trading system.
The indicator’s adaptability across various timeframes and currency pairs, combined with its non-repainting nature, ensures reliable performance.
For optimal results, consider using the Waddah Attar RSI Level Indicator in conjunction with other tools like the BOS CHoCH Indicator for structural analysis or the Xmaster Formula for trend confirmation.
