Description
RSI TC New Trend combines a familiar Relative Strength Index with a Bollinger-Band Trend Catcher on MetaTrader 4. In the indicator sub-window you get a standard RSI plotted against 40/50/60 levels for momentum and bias, while an internal Bollinger-squeeze engine watches for the moment a new trend breaks out of low-volatility compression. When that break lines up with RSI crossing its bull or bear level, the indicator marks a buy or sell dot and can raise a pop-up alert. The idea is to pair a momentum reading (RSI) with a volatility-expansion trigger (the squeeze), so you act on new trends rather than fading a strong one. RSI period and the bull/bear levels are adjustable. Works on all symbols and timeframes. Free MT4 (.mq4) source included. Educational tool, not financial advice.
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