Adx MTF Indicator
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RSI MTF

The RSI MTF indicator for MT4 displays the RSI value of a higher time frame to the lower time frames. With the RSI MTF Indicator for MT4, traders can easily monitor the performance of different time frames and make better trading decisions.

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Description

The RSI MTF indicator for MT4 is a multi-time frame Relative Strength Index (RSI) indicator that provides a more responsive reading of the RSI value. It is designed to display the RSI value of a higher time frame on the lower time frames.

Therefore, the RSI multi-timeframe indicator helps traders identify optimal overbought/oversold zones based on RSI value from a higher time frame. Thus, this version of the RSI indicator provides more responsive signals than the traditional RSI available on the MetaTrader platforms.

Furthermore, the indicator is suitable for analyzing the market for short and long-term trading opportunities. Hence, it can be used by scalpers, day/intraday, and swing traders.

Features of the RSI MTF Indicator for MT4

The version of the RSI indicator works simultaneously on multiple time frames. It shows the RSI value of the daily (D1) time frame on the smaller time frames by default. In other words, the indicator displays the D1 RSI value on H4, H1, M30, etc.

Moreover, the indicator’s parameters are customizable, allowing traders to adjust the settings to their preferences. For example, traders can determine the higher time frame to display the RSI value.

Benefits of Using the Indicator

  • Multi-Time Frame Analysis: The indicator enables traders to read the RSI value from a higher time frame perspective without switching between charts.
  • Reduces False Signals: The indicator reduces false signals by displaying the RSI value from a higher time frame. This provides more reliable data on the RSI (e.g., overbought/oversold condition), enhancing better trading decisions.

Indicator Settings Description

The indicator comes with the following customizable settings:

RSIPeriod: Determines the RSI period for trend analysis.

RSITimeFrame: Determines the higher time frame for the RSI analysis.

Applied_Price: Determines the price mode for analysis.

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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:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. 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.

 

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