The RSI on MA indicator is a useful technical analysis tool for Forex traders. It is popular among traders because it is free and available for the MT4 trading platform. The RSI on MA indicator combines two popular technical analysis tools, the Relative Strength Index (RSI) and the Moving Average (MA). The RSI is an oscillator that measures the strength of the price movements. It ranges from 0 to 100 and indicates whether the market is overbought or oversold. The MA is a trend-following indicator that shows the average price of the security over a certain period of time. By combining two popular technical analysis tools, it helps traders to identify the trend of the market and to determine when to enter or exit a trade.
RSI On MA
The RSI on MA Indicator is a useful and popular free Forex indicator for the MT4 platform. It uses the Relative Strength Index (RSI) and Moving Average (MA) to help traders identify trend reversals and entry points. The indicator works by comparing the current RSI value to the MA value, and then plotting a buy or sell signal when the two values cross. This allows traders to quickly identify when a trend has reversed and when to enter a trade. The RSI on MA Indicator is a great tool for any Forex trader and is highly recommended.
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.