RSI with Trend-Catcher signal RSI TC_New Indicator For MT4
Table Of Contents:
- RSI with Trend-Catcher signal RSI TC_New Indicator For MT4
- Advantages of using the RSI with Trend-Catcher signal RSI TC_New Indicator For MT4
- Trade Idea
The RSI with Trend-Catcher signal RSI TC_New Indicator For MT4 is trading software built on the very distinctive properties of the Relative Strenght Index (RSI). This indicator behaves like the relative strength index with some slight modifications. It alerts the trader to trending markets and ranges and tries to keep the traders out of markets that are not going anywhere. Its behavior is actually very similar to that of the RSI although it is a way better modification.
Advantages of using the RSI with Trend-Catcher signal RSI TC_New Indicator For MT4
Using the RSI based Indicator already grants the trader access to a lot of the properties that made the Relative Strength Index unique and different from other indicators like its ability to react very quickly to a new market trend and to spot divergences with the price. Some of these attributes have been further modified to give it, even more, features with the new and improved RSI with Trend-Catcher signal RSI TC_New Indicator For MT4.
Even the slightest of price divergences are now easier to spot with the improved RSI-with-Trend-Catcher-signal-RSI-TC_New-Indicator-For-MT4 as it allows the trader to benefit from divergence trade when its peaks and troughs diverge with price action. This implies that every time a new divergence shows up in any pair the trader is using this indicator on, it will be incredibly difficult to miss it. This particularly makes this indicator very suited to divergence traders.
The predictive nature of the Relative Strenght Index also makes the RSI-with-Trend-Catcher-signal-RSI-TC_New-Indicator-For-MT4 very interesting as it is built on it and can also predict the future trend. It also does amazingly well at alerting a trader to a newly developing trend. This means that any trader using this indicator will be able to predict future trends with it to the extent to which they understand how to use the indicator.
The RSI-with-Trend-Catcher-signal-RSI-TC_New-Indicator-For-MT4 features a pop-up alert that instantly notifies the trader when a new opportunity comes up for the trader to participate in a trend. This means that once the indicator is properly set up on a chart, it becomes next to impossible to miss a trade as the indicator can send out alerts that can even reach the trader's mobile phone if set properly.
One upside to using the RSI-with-Trend-Catcher-signal-RSI-TC_New-Indicator-For-MT4 is that the indicator helps the trader to easily identify new trends in price action. It also helps the trader by identifying the exact time when a trade can be entered on the trend and alerts the trader to it. That way, it also enables the trader using it to also be able to catch trend entries. Since it is based on the RSI also, it is no surprise since the RSI also allows traders to identify and catch trends.
One of the key issues that the RSI-with-Trend-Catcher-signal-RSI-TC_New-Indicator-For-MT4 tries to solve is the taking of trades by traders during times in the market when volatility is very low or when there's no energy for the market to move to anywhere. The indicator protects the traders using it by visually highlighting such areas so the trader can see it clearly. Secondly, it doesn't stop at highlighting the area. It also avoids generating trading signals during periods where it has identified that a particular market may not be volatile enough to be traded profitably by the trader using this indicator.
The RSI-with-Trend-Catcher-signal-RSI-TC_New-Indicator-For-MT4 is color coded in such a way that makes it very easy for the trader to understand at a single glance exactly what the indicator is saying currently about the markets that they are placed on. When the RSI line becomes green, it means that it is now safe to buy in an uptrend. When the color of the RSI line is Red, it means that it is now safe to sell into the downtrend. When the RSI-with-Trend-Catcher-signal-RSI-TC_New-Indicator-For-MT4 displays the yellow color, it implies that the market is probably still in a range or still range bound and as such, shouldn't be traded until it has cleared the range it is presently confined in.
Another nice thing about the RSI-with-Trend-Catcher-signal-RSI-TC_New-Indicator-For-MT4 is that it is clearly separated in its own chart window and does not clog the charts for the trader who is using it. That way the trader can also use his chart space for other analysis of price action without having a lot of lines and objects obstructing his or her view like is the case with so many other indicators who obstruct the chart area for traders.
Furthermore, the RSI-with-Trend-Catcher-signal-RSI-TC_New-Indicator-For-MT4 measures the volatility across price action throughout a trading day. This means that the analysis is almost semi-automatic by the indicator which really then simplifies things a whole lot for the trader who just sits back and waits till the range has cleared out before taking his or her trade.
Using the RSI-with-Trend-Catcher-signal-RSI-TC_New-Indicator-For-MT4 works best on higher timeframes so that when it catches moves, a trader can be able to make a reasonable profit from such moves.
Another way to use this indicator could also be to watch out for moves on higher timeframes like the 4 Hours (H4) and the 1 Hour(H1), then the trader can go as low as 5 minutes and take the trade in the exact direction as the larger timeframe signal. This can help to greatly reduce the risk on the trade and improve the risk to reward ratio very significantly thus allowing the trader to make a lot more profits from a move that wouldn't have given him as much previously since his stop-loss or risk on the trade would have been much larger if the trader had taken the trade on the higher timeframe where the signal originally emanated.
The RSI-with-Trend-Catcher-signal-RSI-TC_New-Indicator-For-MT4 can work on multiple charts at the same time. So, if a trader wants to monitor 8 charts, he can just set up the indicator on each of them and then wait for signals to come automatically from the indicator.
A trade idea would be to buy after a divergence has been discovered and the price has turned around completely, broken out of a small range and then retested the top of the range. The reverse can also be done for a sell trade.