RBVI Night Signals Metatrader 5 Forex Indicator

The RBVI Metatrader 5 indictor is an indicator that has a lot of relevance to night traders i.e. traders that trade the night market.

We know that there’s a sharp decline in volatility due to the absence of active trading exchanges at night.

The RBVI Metatrader 5 forex indicator takes into consideration the price flow along with the market volatility, with an understanding of how flat market behave.

It is advisable to use the RBVI Metatrader 5 indicator during night market sessions.

The values of the RBVI Metatrader 5 forex indicator are easily interpreted;

If the indicator carries a value that is less than 40%, the market is said to be flat.

If the RBVI MT5 fx indicator carries a value that is greater than 60%, the market is said to be active.

Free Download

Download the “RBVI.ex5” MT5 indicator

Example Chart

The EUR/CAD H4 chart below displays the RBVI Metatrader 5 forex indicator in action.

Basic Trading Signals

Buy Signal: Wait for the night market session and go long after confirming from a trend tool i.e. the moving averages, when the RBVI Metatrader 5 indictor carries a value that is less than 40%.

Sell Signal: Wait for the night market session and go short after confirming from a trend tool i.e. the moving averages, when the RBVI Metatrader 5 indictor carries a value that is less than 40%.

Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the RBVI MT5 fx indicator carries a value that is greater than 60%.

Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the RBVI MT5 fx indicator carries a value that is greater than 60%.

Tips: The RBVI Metatrader 5 custom forex indicator is well-suited for scalpers and traders holding overnight positions.

Download

Download the “RBVI.ex5” Metatrader 5 indicator

MT5 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 5

Type: chart window indicator

Customization options: Variable (RBVIPeriod, Volume type, Tick), Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: oscillator

Installation

Copy and paste the RBVI.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL5 > Indicators (paste here)

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