Introduction to the RSIMA Baseline Divergence Arrows Indicator
The RSIMA Baseline Divergence Arrows indicator works great at filtering those divergence signals.
Divergences are only visible on this indicator if:
- If RSI MA is outside 80 Overbought, Bearish Divergence signal will appear (to forecast a reversal to the downside);
- If RSI MA is outside 20 Oversold, Bullish Divergence signal will appear (to forecast a reversal to the upside);
Additionally, you will see an arrow placed directly on the chart when the signal occurs.
It fits all kinds of timeframes and currency pairs.
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 RSIMA Baseline Divergence Arrows indicator in MT4?
Copy and paste the rsima + baseline (divergence + alerts + arrows).ex4 or rsima + baseline (divergence + alerts + arrows).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 RSIMA Baseline Divergence Arrows indicator is well worth adding to your trading collection but 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.
RSIMA Baseline Divergence Arrows Indicator Free Download
To download the RSIMA Baseline Divergence Arrows Indicator for Metatrader 4 (MT4) for free just click the button below: