RSI_BANDS_MA - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources
The MA is calculated based on data from the RSI, and the Bollinger Bands display the channel.
When the RSI is in overbought territory and falls below the MA, it is a significant sell signal. A buy signal does just the opposite. And if the MA of the price diverges from the MA indicator of the same period, that would be really good. It is recommended to monitor signals on multiple timeframes. Preferably D1, Н4, Н1, М5.
The second one is fixed and will not lag behind the scale
Attachment download
📎 alx_RSI_BANDS_MA.mq4 (4.38 KB)
📎 alx_RSI_BANDS_MA_change.mq4 (4.47 KB)
Source: MQL5 #7158
RSI_BANDS_MA - MetaTrader 4 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
RSI_BANDS_MA - MetaTrader 4 script | Foreign exchange indicator download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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