This market technical analysis tool forms signals based on the testimony of two indicators that are included in its algorithm. The indicator can be used as a ready-made trading system. But I still recommend adding additional tools for analyzing the market situation to improve the accuracy of entry into the market. Indicator RSX NPR Coronforex can be used in trading by any currency pairs and on different timeframes. However, to improve trading results, it is necessary to optimize its settings under Specific currency pair and TF. Make it will be easy, since the parameters in the settings are a bit.

Setting the indicator

Important for the performance of the indicator is four parameters. RSX NPR Coronforex is presented on the price schedule of a currency pair in the form of a curve. Its period is set using the Length variable. In addition, it is necessary to specify which type of price should be used in calculations. For this purpose, there are variable parameters. In the indicator window displays Also overbought and oversold zones. The output parameters have the ability to specify their levels. With the help of Level-OS, we prescribe a level that will be separated by the oversold area, and with the help of LEVEL-OB – the area of ​​overbought. All other parameters in the indicator settings relate to alerts on the appearance of the signal to enter the market. The RSX NPR Coronforex indicator is installed in MT4 in the usual way. I have repeatedly told about it in my articles. Link to download the file I will lay out at the end of this review. And now we will understand how to read indicator signals.

Conditions for opening trade transactions

If we see that the indicator curve came out of the zone indicating overboughtness, and its color has changed from green to red, then you can consider the sale. However, to make such a decision, it is necessary to have another condition. Squares from which the level of the indicator should become yellow. If the indicator curve came out of the oversold zone, and its color has changed With red on green, and the squares became yellow, it is a signal to open a purchase transaction. Close the active orders in the appearance of the opposite signal. To install Stop Loss focus on the next maxima / minimum prices of the currency pair. Do not rush to trade on this indicator on a real account. First test it to work in the demo trading and select the best settings. Download Indicator: RSX-NRP_CORONFOREX Inga Fedorova 11/21/2021 Recording The RSX NPR Coronforex indicator first appeared .