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Composite Index

The Composite Index Forex indicator is designed to resolve the divergence failure problem found in the original Relative Strength Index indicator.

However, the indicator’s ability to offer specific horizontal levels of support that are found within the Composite Index MT5 Forex Indicator add to its worth.

The Composite Index MT5 Forex Indicator takes the normalized formula of the basic RSI Indicator and eliminates the normalization range restrictions.

The Composite Index MT5 custom Forex Indicator deploys an embedded momentum calculation along with a short-term RSI smoothed.

There are three lines found within the Composite Index MT5 Indicator, the Dark Gray, Lime Green and Orange Red lines, where they represent the Composite index, Composite index 2 and Composite index 3 lines respectively.


Basic Trading Signals

Buy Signal: Go long when the lime green line intersects the dark gray line of the Composite Index MT5 Forex Indicator bottom up.

Sell Signal. Go short when the lime green line intersects the dark gray line of the Composite Index MT5 Forex Indicator in a top downward fashion.

Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the dark gray line of the Composite Index MT5 Forex Indicator intersects the lime green line in a top downward manner.

Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the dark gray line of the Composite Index MT5 Forex Indicator intersects the lime green line in a bottom up fashion.

Tip: Intraday traders who trade on higher time frames i.e. 4-hour chart will find the Composite Index MT5 Forex Indicator a very useful trading tool.



MT5 Indicator Characteristics

Currency pairs: All forex pairs

Platform: MT5

Type: Chart window indicator

Time frames: All time frames

Type: Oscillator


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Tweezer Pro Indicator is a pattern recognition indicator for Forex, Stocks, Indices, Futures, Commodities and Cryptos. The standard Tweezer is a two bar pattern. Our enhanced version is a multi-bar pattern. We filter the patterns for you so that you only get the   best and most effective patterns   and ignore the noise. The Tweezer pattern is a simple and effective pattern to trade. The strategy that comes with the Tweezer is based on price action. The Tweezer Pro version let users
177 USD
Pivot Channels PRO MT5
Dmitry Zmitrovich
⭐⭐⭐⭐⭐ I'm glad to present you my new "Pivot Channels Pro" indicator. ⭐⭐⭐⭐⭐ It builds on my previous indicators and over six years of experience using them. This indicator includes all the best strategies that I have researched. When developing and optimizing, I used ML algorithms. The indicator is very easy to use. Now the indicator has 3 basic strategies and the ability to customize your own strategy. I am constantly looking for better strategies. Telegram channel:   https://t.me/d_product
99 USD
TrueSR Multi TF Support Resistance alert and panel
Behzad Movaghar
TrueSR indicator is a multi-timeframe panel and alert that finds nested support and resistance zones for all timeframes and gives alert when price has interaction with those zones. If you are using support and resistance (or supply and demand) zones in your trading strategy, this indicator and its alert and filtering system is a big time saver for you. Also doesn't matter what is your trading strategy, this indicator helps you to not caught in support and resistance zones. Indicator shows if pri
120 USD
Magic Candles MT5
Evgeny Belyaev
Magic Candles MT5 is a new product that allows identifying the current market phase (uptrend, downtrend or flat). This indicator paints bars in different colors depending on the current state of the market and signals the user about trend changes with alerts. Magic Candles MT5 is perfect for trading currencies (including cryptocurrencies) and binary options. Magic Candles for MetaTrader 4 can be downloaded here: https://www.mql5.com/en/market/product/25921 . Advantages Suitable for scalping an
33 USD
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