RSI Divergence Metatrader 4 Forex Indicator

The RSI Divergence forex MT4 indicator scans and displays divergences between price and the RSI indicator.

It looks for both bullish and bearish divergences.

Use this indicator to trade low risk trend reversal trades in both bullish and bearish markets.

RSI Divergence works best for scalping, day trading and swing trading.

Free Download

Download the “RSI_FWA.mq4” MT4 indicator

Example Chart

The EUR/USD M15 chart below displays the RSI Divergence forex indicator in action.

Basic Trading Signals

Trading signals from the RSI divergence indicator are simple to interpret and goes a follows:

Buy Trade: Go long when bullish divergence occurs between price and the RSI indicator

Sell Trade: Go short when bearish divergence occurs between price and the RSI indicator

Download

Download the “RSI_FWA.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: chart pattern indicator

Customization options: Variable (RSI Period, Icon, Levels) Colors, width & Style.

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

Type: Divergence

Installation

Copy and paste the RSI_FWA.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.

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

File > Open Data Folder > MQL4 > Indicators (paste here)

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