The Zerolag RVI Forex indicator for Metatrader 4 is a technical oscillator that provides solid trading signals.
The indicator appears in a bottom chart window as a red and green colored histogram.
It’s a versatile and great buy & sell signals standalone indicator.
Key Points
- Provides buy & sell signals.
- Solid performance.
- Works great for scalping and day trading.
- Well worth adding to your indicator collection.
Zerolag RVI can work together with any existing trading strategy or system as an additional buy/sell signals histogram indicator.
Free Download
Download the “color-zero-lag-rvi-indicator.ex4” MT4 indicator
Indicator Chart (EUR/USD H1)
The EUR/USD H1 chart below shows the Zerolag RVI Forex indicator in action.
Basic Trading Signals
Signals from the Zerolag RVI indicator for Metatrader 4 are easy to interpret and go as follows:
BUY:
- Open a buy position when the Zerolag RVI indicator turns back to green color.
- Set a stop loss below technical support.
- Utilize your own take profit method, or wait for an opposite sell trading signal.
SELL:
- Open a sell position when the Zerolag RVI indicator turns back to red color.
- Set a stop loss above technical resistance.
- Utilize your own take profit method, or wait for an opposite buy trading signal.
Zerolag RVI + Moving Average Trend Dashboard Forex Day Trading Strategy
This day trading strategy combines the Zerolag RVI Forex Indicator for MT4 and the Moving Average Trend Dashboard Indicator for MT4.
It is designed to capture intraday trend reversals with precision.
The Zerolag RVI indicator signals short-term momentum changes with color shifts: green for bullish and red for bearish.
The MA Trend Dashboard provides trend confirmation for your chosen timeframe with blue arrows for bullish trends and red arrows for bearish trends.
This strategy is ideal for M5, M15, and H1 charts across multiple currency pairs.
Buy Entry Rules
- Confirm the MA Trend Dashboard shows a blue arrow for your chosen timeframe, indicating a bullish trend.
- Wait for the Zerolag RVI indicator to turn green, signaling a bullish momentum reversal.
- Enter a buy trade at the close of the confirming candle.
- Set a stop loss below the recent swing low or a nearby support level.
- Take profit at a key resistance level, the opposite dashboard signal, or when the Zerolag RVI turns red.
Sell Entry Rules
- Confirm the MA Trend Dashboard shows a red arrow for your chosen timeframe, indicating a bearish trend.
- Wait for the Zerolag RVI indicator to turn red, signaling bearish momentum reversal.
- Enter a sell trade at the close of the confirming candle.
- Set a stop loss above the recent swing high or a nearby resistance level.
- Take profit at a key support level, the opposite dashboard signal, or when the Zerolag RVI turns green.
Advantages
- Combines momentum reversals with trend confirmation for higher accuracy.
- Visual signals make entries and exits clear and easy to follow.
- Works well on multiple timeframes for flexible intraday trading.
- Helps avoid trading against the prevailing trend, reducing false entries.
Drawbacks
- Requires monitoring of both indicators to avoid missed trades.
- May lag slightly in extremely fast-moving markets.
Case Study 1 – AUD/USD (M15 Chart)
On the AUD/USD M15 chart during the London session, the MA Trend Dashboard displayed a blue arrow.
Shortly after, the Zerolag RVI turned green at 0.6750, confirming bullish momentum.
A buy trade was entered at 0.6751 with a stop loss at 0.6742.
Price climbed to 0.6770 within an hour, yielding a +19-pip profit before the Zerolag RVI signaled a reversal.
This setup shows how the strategy can capture clear intraday trends.
Case Study 2 – EUR/CAD (M5 Chart)
On the EUR/CAD M5 chart, the MA Trend Dashboard showed a red arrow indicating a bearish trend.
The Zerolag RVI turned red at 1.4765, signaling momentum to the downside.
A sell trade was opened at 1.4763 with a 10-pip stop loss.
The price dropped to 1.4745 within 25 minutes, providing an 18-pip profit.
The combination of dashboard trend confirmation and momentum reversal provided a strong intraday entry.
Strategy Tips
- Focus on major currency pairs with good liquidity for smoother moves and less slippage.
- Trade primarily during active sessions such as London and New York for higher probability setups.
- Avoid entering trades when the dashboard arrow is changing frequently or the Zerolag RVI is flat near zero.
- Use trailing stops to lock in profits during strong trending moves.
- Consider analyzing higher timeframes for additional trend confirmation before entering intraday trades.
The Zerolag RVI + Moving Average Trend Dashboard MT4 strategy provides a disciplined intraday trading method.
By waiting for momentum reversals confirmed by trend direction, traders can enter high-probability trades while maintaining clear risk management and defined exit points.
Download Now
Download the “color-zero-lag-rvi-indicator.ex4” MT4 indicator
Adjustable Parameters & Settings
Smoothing, factor 1, RVI period 1, RVI period 2, signal mode, shift arrows, colors, width, style.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Supported currency pairs: Any
Trading Platform: Metatrader 4 (MT4)
Time Frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Trading signals
