FTS Toolkit - RSI Returning Signal - Indicator showing significant RSI returning signals

Alonedevils

Master Sergeant
Messages
277
Fellow Squad Members,

Let me share with you this little RSI indicator that has a nice additional feature: it can translate to significant RSI returns to buy and sell signals.
Hy Bro ..
Thats Was Great Indi, And Like Use Trade With RSI, I have any question, is Possible To Display Closed Price on RSI Automatically ? :)
Thanks Peter.
 

HiramC

Recruit
Messages
8
Dear Peter

Many thanks for this nice indicator :)

Please could you (and other kind FPA members) also share your entry and exit strategies around this indicator? That would be very interesting and certainly of great help to me.

Thanks in advance. Keep up the good work!

Best regards

Hiram
 

Refan37

Recruit
Messages
10
I can't seem to get it to work. The file is only 1Kb and consists of 1 long line of text when I open it up in MetaEditor.
And when I drag the indicator on my chart nothing appears.
 

Pakito99

Private
Messages
17
Hi! Sorry, I'm new to forex trading, but which MT4 do you refer? Do I need to install one to my PC ? I currently using a browser-web based one. I know it's a dumb question but I'm curious.
 

Peter O

Special Consultant to the FPA
Messages
3,521
Hi! Sorry, I'm new to forex trading, but which MT4 do you refer? Do I need to install one to my PC ? I currently using a browser-web based one. I know it's a dumb question but I'm curious.
These are MetaTrader4-specific codes so yes, you need to have one installed on your PC. Then you need to copy this mq4 file into {MT4}\experts\indicators and after restarting MT4 you can drag this indicator on any chart.
 

Bernhard33

Private, 1st Class
Messages
42
thanks the indi works fine with me.
any advice how is best to use it? a method or system?
Is the signal better if its happen near oversold level?
 

Peter O

Special Consultant to the FPA
Messages
3,521
Returning signal is a good confirmation of a trend reversal - or at least the trend exhaustion - for many traders (and for me among them). So probably it's easy to integrate it into your daily trade plan.

Anyways, I like to use some additional logic to simply watching current levels. Like this: returning curve after and extreme value.

So I hope it makes you more profitable guys and girls :)
 
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