RSI Trend Manager Forex system is a slow trend-momentum Trading System which works best on 15M, 30M, 1H and 4H time frames and any currency pair. The trading system is based on two indicators which signify buying and selling signal. It uses Flat trend RSI AND trend manager indicators for finding the signals.
How to trade with RSI Trend Manager Forex system
Buying signal:
Blue lines under the candles + Blue bars on the separated window indicator.
- For example: Once you see a blue line and a blue bar, that means the current trend is up trend. Open “buy” order.
- Stop loss can be a fixed number, for example: 50 pips for 1H time frame and 75 pips for the 4H chart.
- Stop loss can also be based on support and resistance levels.
Selling signal:
Red lines below the candles + Red bars in the separated window indicator. For Example:
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- Fixed number for each trade. Example, 65 pips for the 1H chart and 95 pips on 4H chart.
- Opposite signal. Example, if the current opened trade is a sell trade then close it when you get a buy signal.
- You can also use support and resistance, pivot points or Fibonacci levels.
How to download and install an indicator?
In order to install the indicator on your MT4 platform, you need to follow these steps:
- Click on the “Download Indicator” button located at the bottom of the post.
- Save the file to your computer.
- Extract and move the files into MT4>Indicator folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select the template to apply it on the chart.
Note: This indicator was developed by our subscriber. AtoZ Markets does not carry any copyrights over this trading tool.
