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DT RSI Sig is a trading algorithm whose calculations are based on a modification of the indicator included in the standard Forex set. Its calculations are aimed at determining the current trend, its strength and the moment of opening trades in this period. The indicator is displayed in the lower window of the price chart as a solid line that, when reaching its peak, forms a point of a certain color. The line moves in a certain direction, and taking into account which the current trend is determined, taking into account the formed points, and the trade itself.
The DT RSI Sig indicator is suitable for trading on any timeframe using any currency pairs.
Input parameters
The settings of the DT RSI Sig indicator consist of several sections, each of which is responsible for its general functioning. The Input parameters section is used for visualization of the indicator, and the Levels section is used to add signal levels to the indicator window.
-PeriodRSI - the value of the RSI indicator calculation period. The default value is 14.
Indicator signals
The DT RSI Sig indicator is very easy to use due to its convenient visualization. To open a certain trade using the indicator, it should be taken into account the direction of the current trend. For this, in turn, the direction of its line is taken into account, and already to open a trade, the color of its point is taken into account. If the indicator determines an upward trend, long positions are opened, if the trend is downward, short positions are opened. At the moment the current trend changes, in both cases, trades are closed.
Signals for Buy trades:
- The indicator line moves up and a point with a growth value is formed on it.
Upon receipt of a combination of such conditions on a signal candle, a buy trade may be opened, due to the presence of an uptrend. Upon receipt of the opposite conditions from the indicator, namely, when the direction of the line changes and the next point is formed, the trade should be closed. At this moment, a change in the current trend is possible, which will allow considering the opening of new trades.
Signal for Sell trades:
- The indicator line goes from top to bottom and a point with a fall value is formed on it.
Upon receipt of such conditions, a sell trade may be opened, due to the presence of a downtrend. When the current trend changes, namely, when opposite conditions are received from the indicator, the current trade should be closed and a new one should be considered.
Conclusion
The DT RSI Sig indicator is a very powerful trading algorithm. At the same time, to improve the accuracy of its signals, it is recommended to use it as part of strategies with additional filters, indicators and advisers. To obtain the necessary trading skills, it is recommended to practice on a demo account.
