RSI Filtered Forex Indicator

An easy to use forex trading indicator based on RSI + filter. The indicator shows up in a sub window below the main MT4 trading chart.

Feel free to experiment with the RSI period values. I prefer to use values above 25. This reduces the amount of false signals.

You can use the RSIFilter with an overbought/oversold oscillator (for example the Stochastic oscillator) for more accurate entry and exit signals.

Trading Signals

Buy signal: Wait for the RSI filter to turn orange from blue color.

Sell signal: Wait for the RSI filter to turn blue from orange color.

Indicator Preferences

Currency pairs: any

Time frames: any

Trading sessions: any

Download

Download the RSIFilter.mq4 indicator.

Configurable Indicator Options

Colors, RSI period,…

EUR/USD H1 Chart Example

RSI-Filter-Forex-indicator

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