The Double RSI Trading Signals Indicator for MT5, as the name suggests, is based on two Relative Strenght Indexes with various periods. The idea and goal for this combination is providing more accurate trading signals.

The entries and exits are expressed by orange and blue dots. Blue ones are positioned below candlesticks and suggest potential bullish trade. On the other hand, orange ones are placed above bars and correspond to bearish trade opportunity. There is also additional element, an X mark – it appears when a relatively big candle take place (e.g. engulfing bar).

As you can see, this is a pretty simple approach and should be rather used in conjuction with other technical analysis tools.

Additional note

It may provide triggers for the same direction multiple times in a row, so please account that. When you receive a signal, it doesn’t mean the next one will be opposite one.

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