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The Relative Strength Index (RSI) is the foundation of the RSI with Fibonacci Auto Channel MT5 indicator, which incorporates some Fibonacci levels into the tool’s code.
Pink and green make up the main, bold signal line, which changes color in response to market developments. Therefore, when the line is green, you should search for purchase trades. The same is true for looking for sell trades when the line is pink.
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Below the main trade chart, a separate window with the indication is shown. It works with all mt5 currency pairs and periods.
Direct changes can be made to the mt5 indicator’s default settings from the input tab. Feel free to experiment with the options and settings until it suits your tastes.
Installation Guide
Copy and paste the RSI with Fibonacci Auto Channel after unpacking the RSI with Fibonacci Auto Channel.zip archive that can be downloaded at the end of this post.Enter the MQL5 folder of the MetaTrader 5 trading platform. RSI with Fibonacci Auto Channel.ex5 indicator files.
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.
 | No Minimum Deposit ECN Acount No Commission | |
 | Min Deposit of 20$ |
| | No Minimum Deposit ECN Acount No Commission | |
| | Min Deposit of 20$ |
It is worthwhile to add the RSI with Fibonacci Auto Channel indicator to your collection for forex trading, but keep in mind that you should have reasonable expectations. Like any other technical analysis tool, it is not always able to produce reliable signals. As a result, it will occasionally send out erroneous signals. Additionally, depending on the state of the market, its performance will vary considerably. Feel free to use it as the foundation for your trading strategy.
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