RSFILTER is an indicator easy to use it is combined by RSI and the filer, the RSI gives us clearer view.
The indicator shows up in a sub window MT4 trading below the main chart .I choose the 14 RSI values for used and shown to reduce the number of false signals.You can use the RSIFilter with an overbought/oversold oscillator for more accurate entry and exit signals.
Trading Signals:
Buy: Wait RSIFILTER to turn red from blue color.
Sell: Wait RSIFILTER to turn blue from red color.
Indicator Preference:
Currency pairs: any
Time frame: any
Trading sessions:any
Configurable Indicator Options:
Color,PeriodRSI,Level.
Color,PeriodRSI,Level.
Example:EUR/USD-H4
How to use a custom indicator on your charts:
Step1: Dowload the mq4 file into your c:\Prom File\Meta Trader4\MQL4\Indicators
Step 2: Open your MT4
Step 3: Locate the Navigator Panel.
Step 4: On the Navigator ,find custom Indicators .
Step 5:Click Custom indicators ,and you should see your newly installed indicator.
Step 6:Double click the indicator and the Indicator Properties window will appear.
Step 7: Click OK.
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