Introduction to the Moving Averages RSI Histogram Indicator
The Moving Averages RSI Histogram Indicator is, as the name suggests, a combination of two forex gauges: Moving Average and Relative Strenght Index (RSI), and its signals are provided in the form of a histogram. When both indicators agree for bullish signal, histogram bars are green. Similarly, when both indicators agree for bearish signal, histogram bars are red. Yellow bars mean indecision. That forex indicator should be rather used as a filter, than a standalone trading tool.
The Moving Averages RSI Histogram Indicator fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Moving Averages RSI Histogram indicator in MetaTrader (MT4)?
Download the Moving Averages RSI Histogram.rar archive at the bottom of this post, unpack it, then copy and paste the Moving Averages RSI Histogram.ex4 or Moving Averages RSI Histogram.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 Moving Averages RSI Histogram 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. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT4 Moving Averages RSI Histogram Indicator
To download the Moving Averages RSI Histogram Indicator for Metatrader 4 (MT4) for free just click the button below: