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The Candles with RSI Divergence An oscillator that gauges the speed and variance of price chart changes is the MT5 Forex Indicator. Traders can learn a lot about market trends and their directions thanks to the signals, which are displayed as candles with various colors. The Relative Strength Index (RSI) and its divergences serve as the basis for that indicator. The RSI Divergence Candles are simple and straightforward to use. Open a long position when the candles turn a medium marine green, and a short position when they turn orange-red.
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All different timeframes and currency pairs are compatible with the RSI Divergence Candles Indicator. Below the main trading MT5 chart, it is shown in a separate window. Direct editing of the default indicator settings is possible from the indicator input tab. Test the options and parameters as needed to suit your tastes.
Installation Guide
The RSI Divergence Candles.ex5 or RSI Divergence Candles.mq5 indicator files should be copied and pasted into the MQL5 folder of the MetaTrader 5 trading platform once you unzip the RSI Divergence Candles.zip download at the end of this post.
The top menu options, which are as follows, can be used to reach this folder:
File > Open Data Folder > MQL5 > Indicators (paste here).
Now go to the left side of your MT5 terminal. In the Navigator, find the gauge name, right-click it, and select Attach to the chart.
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 | No Minimum Deposit ECN Acount No Commission | |
 | Min Deposit of 20$ |
You should include the RSI Divergence Candles indicator in your toolkit for forex trading. Your chances of success will increase with a reliable forex indicator. But always remember to set reasonable goals. Like any other technical analysis tool, it is not always able to produce reliable signals. As a result, this forex indicator occasionally generates erroneous signals. The state of the market will have a huge impact on how it performs. Feel free to use it as the foundation for your trading strategy. Remember that there are still more fantastic free Forex MT5 indicators available for download and testing.
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