We often refer to the double RSI trading signals indicator for Metatrader 5 as “RSI with RSI”.
Two different RSI periods generate both entry and exit signals on any financial instrument.
The indicator is expressed by orange and blue dots. The two dots are positioned above or below the candlesticks, as you can see on the picture above.
How to trade with Double RSI Trading Signals?
The Buy Signal: If you open a buy order when a blue dot appears on the activity chart.
The Sell Signal: If you open a sell order when an orange dot appears on the activity chart.
A simple tip is to use this indicator alongside other forex indicators and other technical tools for more accurate buy/sell trading signals.