RSI Ichimoku indicator download for MetaTrader 4 | Forex indicator download - MT4/MT5 resources

The RSI Ichimoku indicator on the MetaTrader 4 platform is a powerful indicator for technical analysis. This tool combines the Ichimoku cloud structure with the RSI line (blue) to provide entry and exit signals in the form of an advanced hybrid oscillator.

This analysis tool is designed to simultaneously measure market momentum using the RSI and trend direction and structure through the Ichimoku component.

RSI Ichimoku Spec Sheet

The table below provides a general overview of the RSI Ichimoku indicator functionality.

Uptrend Conditions

This price chart showcases the EUR/CHF currency pair on a 5-minute time frame.

A favorable buying (buying) opportunity forms when the RSI line breaks above the bearish Kumo cloud and the price is at the end of a downtrend and selling pressure subsides.

downtrend conditions

The chart shows the CHF/JPY currency pair on the 5-minute time frame.

When the RSI line breaks above the bullish Kumo cloud, it indicates that the area is overbought. This may represent a suitable entry (sell) opportunity.

Indicator Settings

The image below shows the adjustable parameters of the RSI Ichimoku indicator:

• Tenkan : Tenkansen line
• Kijun: Kijunsen line
• Senkou : Senkou lines
• Rsip : RSI related settings
• CL-Style : Line or component display style

Conclusion

By combining the Ichimoku system and the Relative Strength Index, the RSI Ichimoku indicator provides more accurate entry and exit signals.

This trading tool can also identify overbought and oversold areas as well as trend direction, support and resistance levels.