Introduction to the BB Stops RSI Super Smooth Indicator
The BB Stops RSI Super Smooth Indicator is a result of a combination of Bollinger Bands Stops and Relative Strenght Index (RSI).
The indicator is displayed in a separate window placed just below the main trading chart.
To generate trading signals, this tool uses a crossover of RSX and BB Stops. Thus, you shouldn’t have any problems understanding when to open and close a trade.
It fits all kinds of timeframes and currency pairs.
The default indicator settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How does it work? How to apply in trading?
Trading Rules Explanation
Signals provided by the BB Stops RSI Super Smooth Indicator are really intuitive and will not cause you difficulties. Simply follow the suggestions below.
Buy Entry: Open long trade when the RSX moves above BB Stops – the solid signal line turns from dark red to blue color and the dotted signal line turns from red to green color. Place your stop loss a few pips below the last swing low.
Sell Entry: Open short trade when the RSX moves below BB Stops – the solid signal line turns from blue to dark red color and the dotted signal line turns from green to red color. Place your stop loss a few pips above the last swing high.
Exit Trade / Take Profit: Close your open position when an opposite signal occurs, or use your own preferred method of trade exit.
As always, to achieve good results, remember about proper money management. To be a profitable trader you need to master discipline, emotions, and psychology. It is crucial to know when to trade, but also when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility conditions, beyond major sessions, exotic currency pairs, wider spread, etc.
Example of EUR/USD H1 Chart
This screenshot below shows an example of BB Stops RSI Super Smooth forex indicator in action.
How to set up the BB Stops RSI Super Smooth indicator in MT4?
Download the BB Stops RSI Super Smooth.rar archive at the bottom of this post, unpack it, then copy and paste the BB Stops RSI Super Smooth.ex4 or BB Stops RSI Super Smooth.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The BB Stops RSI Super Smooth indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
Download Free Forex MT4 BB Stops RSI Super Smooth Indicator
To download the BB Stops RSI Super Smooth Indicator for Metatrader 4 (MT4) for free just click the button below: