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The DSL RSX indicator is a trading algorithm based on the operation of several forex indicators. The indicator is a trend indicator, so its calculations are aimed at determining the direction and strength of the current trend, which in turn allows determining the moment of opening a trade. It represents in the lower window of the price chart in the form of two lines: the main RSX and the signal DSL that intersect with each other, moving in a certain direction and turning into a certain color. The current values of the indicator serve to identify the current market movement and trade in this period directly.
The DSL RSX indicator is suitable for trading on any timeframe using any currency pairs.
Input parameters
The settings of the DSL RSX indicator consist of several sections, each of which is aimed at the general functioning of the indicator. The Input parameters section is responsible for its technical work, the Colors section is for the general visualization of the Signal, and to add signal levels to the indicator window, the Levels section is used.
-Rsx period - value of the period of the RSX indicator. The default value is 32.
-Price - type of the price to which the indicator calculations are applied. By default, it has the Close price value.
-Signal period - period of calculation of the signal line of the indicator. The default value is 9.0.
Indicator signals
The DSL RSX indicator is easy to use due to its detailed and understandable visualization. To open a certain trade, one should take into account the direction and strength of the current trend, which in turn are determined by taking into account the color of the main line, its intersection with the signal line and their general direction. If the indicator characterizes the presence of an uptrend, long positions are opened, while during a downtrend, short positions are opened. When the trend direction changes, in both cases, trades are closed. It should be borne in mind that at the moment when the indicator line is in the neutral zone, having a neutral hue, trades are not opened.
Signal for Buy trades:
- The indicator lines intersect so that the main one, which has a color with a growth value above the signal one. Both lines are directed upwards.
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 in the market. The trade should be closed upon receipt of the opposite conditions from the indicator. At this moment, a change in the current trend is possible, which in turn will allow considering the opening of new trades.
Signal for Sell trades:
- The indicator lines are directed downwards. The main line has a color with a fall value and is under the signal line.
A sell trade can be opened immediately upon receipt of such conditions on the signal candle. At this moment, the market determines the presence of a downtrend. Closing the current trade and considering opening a new one should be when the trend changes, namely when receiving reverse conditions from the indicator.
Conclusion
DSL RSX is a very effective indicator based on accurate calculations of trading algorithms. It is very easy to use and suitable even for beginners. At the same time, it is recommended to practice on a demo account before using the indicator on a real deposit.
