TRSI Indicator
Platform: MT4 Type: Oscillator Last update: November 5, 2024The TRSI Indicator for MT4 is an oscillator that essentially consists of the EMA, SMA, and RSI. The goal of such combination is improved recognition of overbough and oversold market states.
Trading Rules Explanation
Buy Entry: When the signal line reaches 30 level and below. The price should reverse from now and you should be looking for long trades. Place your stop loss a few pips below last swing low.
Sell Entry: When the signal line reaches 70 level and above. The price is likely to reverse from now and you should be looking for short trades. Place your stop loss a few pips above last swing high.
Exit Trade / Take Profit: Close your open position when the opposite signal appears, or use your own preferred method of trade exit.
Example chart:
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