The RSI Forex Trend indicator for Metatrader 5 delivers awesome buy and sell trading signals based on the RSI and Average True Range indicators.
The buy and sell signals appear in the main price chart as green and red colored star arrows.
The blue colored line indicates an uptrend while the purple colored line indicates a downtrend.
The indicator is beginner-friendly and does not repaint the colored signal lines.
How to trade with the RSI Trend indicator?
- The green star arrow is a buy signal.
- The red star arrow is a sell signal.
The following indicator inputs and parameters can be modified: risk, SSP, ATR ratio, and RSI price.
The RSI Forex Trend indicator should work as a standalone buy and sell trading strategy.
Please make yourself familiar with this technical indicator and test it first on a demo account for an extended period.
It supports all time frames and Forex pairs.
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RSITrend_NRTR.mq5 Indicator (MT5)
Chart Example
The following chart shows what the RSI Forex Trend indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The RSI Forex Trend Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is formed when the green colored RSI trend arrow gets displayed on the chart.
- Open a buy trade and place your protective stop loss below the previous swing low price.
- Exit the buy trade for a fixed take profit, or keep the trade open until the red colored arrow appears on the chart.
Sell Signal
- A sell signal is formed when the red colored RSI trend arrow gets displayed on the chart.
- Open a sell trade and place your protective stop loss above the previous swing high price.
- Exit the sell trade for a fixed take profit, or keep the trade open until the green colored arrow appears on the chart.
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RSITrend_NRTR.mq5 Indicator (MT5)
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 Rsi(var)(Hull).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