A simple and effective signal indicator for MetaTrader 5.
This indicator combines two classic tools, RSI and Moving Average (MA), to identify trend following signals. It is designed as a clean, non-drawing visual tool that is ideal for manual trading or as a source of signals for an Expert Advisor (EA).
EA (EA).
STRATEGY LOGIC
The indicator draws an arrow only when both conditions are met:
Buy signal (Blue arrow):
1. The closing price is OUTSIDE the Moving Average (confirming an uptrend).
2. The RSI value is above the 50 level (confirming the bullish momentum).
Sell Signal (Red Arrow):
1. The closing price is LOWER than the moving average (confirming the downtrend).
2. The RSI value is LOWER than the 50 level (confirming the bearish momentum).
FEATURES
- Clean, commented code.
- All parameters (RSI Period, MA Period) are fully customisable in the input data.
- Uses standard MT5 buffers for signals (ideal for use with iCustom() in an EA).
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