SRCC Indicator

SRCC Indicator

The SRCC indicator for MT4 is a custom trading tool that detects overbought/oversold zones and also defines the trend bias of the market.

The SRCC indicator for MetaTrader is a custom trading tool built with algorithms that detect the overbought/oversold zone of the price and also define the trend bias of the market. It is well optimized to identify exhaustion zones with better accuracy, more responsive to the changes in the price, and suitable for all classes (novice/intermediate and advanced) of forex traders.

The indicator delivers incredible signals in a trending market. It comes with a lime line that oscillates between extreme zones of +1.3 and -1.3. However, the -0.9 and +0.9 zones are considered as the exhaustion points of interest where the price may likely change direction. Thus, the price at +0.9/-0.9 is termed as overbought/oversold, respectively.

Furthermore, the zero line of the indicator defines the trend into bullish and bearish biases. Therefore, the price above/below the zero line is termed as a bullish/bearish bias, respectively. So, in essence, you may look for a buy/sell entry opportunity after the lime line touches the oversold/overbought zone and then crosses above/below the center line.

How to Trade With the SRCC Indicator

The above image depicts the action of the indicator on a EURUSD currency pair in the H4 timeframe.

Firstly, the image shows that the EURUSD pair is trending to the upside. Secondly, the market retraced to the oversold zone of the indicator, which indicates a potential trend reversal for a bullish continuation. Furthermore, the indicator’s line also crossed above the zero line, signaling a bullish bias. Finally, the price printed a bullish candlestick pattern, a confluence to open a buy position.

Conclusion
The SRCC indicator for MT4 is essentially a technical trading tool that defines the trend bias and also identifies the optimal reversal zones of a financial asset. What’s more, it would come in handy as a confluence for scalpers, day/intraday, and swing traders to identify a high-probability trade setup. Finally, it is free to download.