Flat Trend Mt4 Indicator

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This Flat Trend Indicator, called Flat Trend Rsi, is one of the many free indicators on the site. I came across it whilst doing some site ‘house cleaning’ and could for the life of me tell you what it is based on other than it has an rsi filter.

For the chart below I have set the RSI period to 5 for not other reason other than I wanted to fit as many signals on the chart I could to demonsrate the indicator.

The idea of the indicator is, from what I can understand, is to only take short signals. By the looks of things it’s quite a nice indicator. I think a trader would have to spend some time going over the charts and marking the trades and noting down entry and possible maximum targets and losses. Then you would be able to devise mechanical entry & stop levels to create a profitable trading system. Probably ideal for scalping? Obviously there is nothing taking long signals as well as short signals.

I definitely think it is worth of more investigation.

Download:- Flat Trend RSI MT4 Indicator

Click to enlarge

Flat Trend Indicator

One Response

  1. otinsur says:

    “Metatrader Indicators.Forex Forum. Online Currency Trading. Forex Trading.”
    How much is realistic?

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