Platform: MetaTrader 4
Skill Level: Advanced traders
Indicator Categories: Oscillators, Signal & Forecast, Trading Assist
Indicator Types: Entry & Exit, Trend, Reversal
Timeframes: Multi-timeframe compatible
Trading Styles: Day trading, Intraday, Scalping
Trading Instruments: Forex, Stocks, Indices, Cryptocurrency
Functionality:
- Advanced version of classic RSI
- Calculates multiple periods, averages values
- Histogram displays intensity of overbought/oversold zones
- Green histograms → buying pressure
- Red histograms → selling pressure
Uptrend Example:
- Oscillator enters oversold → end of bearish trend
- Red histogram strength measures selling pressure
- Exiting oversold → buy signal → long entry opportunity
Downtrend Example:
- Oscillator enters overbought → end of uptrend
- Green histogram strength measures buying pressure
- Overbought zone → sell signal → short entry opportunity
Provides detailed market analysis for better trade decisions
Helps traders time entries and exits with precision
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