AtoZ Markets indicator gallery offers the RSIOMA indicator for free.
RSIOMA MetaTrader indicator takes two moving-averages and calculates their RSI. Then, it adds a moving mean of the calculated RSI. These lines can now be used to indicate the trend changes. These lines are displayed in a separate window. They can change from 0 up to 100. A second histogram indicator is displayed below the lines for easy reference.
Trade with RSIOMA
The bold blue line in the image is RSI. The thin violet line represents its moving average. RSI higher than 50 and RSI greater than 50 are signs of a bullish trend. RSI lower than 50 and RSI at or below 50 are signs of a bearish tendency. You can also buy when RSI reaches level 20 from below, and sell when RSI reaches level 80 from above. However, these signals are weaker. Histogram provides quick reference. The lines that are green indicate BUY and the red signals SELL. Magenta indicates overbought; blue indicates oversold.
Do you want to trade Forex with RSIOMA Register for a free account at AtoZ Markets, where you can trade forex with RSIOMA.
How do I download and install an indicator?
These steps will help you install the indicator onto your MT4/MT5 platform.
- At the bottom of your screen, click on the " download indicator" button.
- Save the file to your hard drive.
- Move the files to the MT5>Indicator directory in the MetaTrader4 software program file directory.
- Start your Metatrader platform.
- Navigate to " Indiators."
- To apply the "RSIOMA v2” template, select it.
Note that This indicator has been created by a third-party. AtoZ Markets has no copyrights to this trading tool.
Do you need to trade with RSIOMA indicators on your own?
This article will help you understand the basics of this indicator before you begin trading.
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