If you're looking for a straightforward yet powerful signal indicator for MetaTrader 5, you've landed in the right place!
The RSI MA Signal Indicator marries two time-tested tools: the Relative Strength Index (RSI) and the Moving Average (MA). This combo helps you spot trend-following signals with ease. Plus, it’s designed to be a clean, non-intrusive visual tool, making it perfect for manual trading or as a reliable signal generator for your trading systems.
Understanding the Strategy Logic
This indicator only triggers an arrow when both of the following conditions are satisfied:
Buy Signal (Blue Arrow):
- The closing price is above the Moving Average, confirming an uptrend.
- The RSI value is greater than 50, indicating bullish momentum.
Sell Signal (Red Arrow):
- The closing price is below the Moving Average, confirming a downtrend.
- The RSI value is below 50, indicating bearish momentum.
Key Features
- Clean and well-documented code for easy understanding.
- All parameters, including RSI Period and MA Period, are fully customizable in the input settings.
- Utilizes standard MT5 buffers for signals, making it perfect to use with iCustom() in your trading systems.
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