Smoothed RSI Forex Signal for Metatrader 4 is a fantastic signal indicator that’s based on RSI + smoothed digital filter.
The indicator gets displayed as a blue/gray/pink colored oscillator in a bottom window of the trading platform.
Buy & sell signal:
- 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 Example 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.
Download Now:
Download the “Smoothed RSI.mq4” indicator for Metatrader 4
Installation:
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the Smoothed RSI.mq4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.