RSX Powered JMA Indicator

RSX Powered JMA Indicator

RSX Powered JMA Indicator For MT4 provides overbought and oversold forex trading signals. Better and profitable signals than RSI indicator.

The RSX powered JAM indicator for MT4 provides better quality overbought and oversold forex trading signals of any currency pair. The RSX is a smoother version of the classic RSI – Relative Strength Index and the JMA – Jurik Moving Average reduces or eliminates the lag associated with moving averages. The combination of above two leads to rewarding forex reversal trading buy and sell signals.

The indicator is suitable for new and advanced forex traders. Since reversal trading signals are associated with false starts, new traders should use additional confirmation before entering a trade. Moreover, this indicator works well in all time frame price charts and is helpful for all types of traders.

RSX Powered JMA Indicator For MT4 Trading Signals

The indicator plots a blue indicator line in a separate indicator window. For better understanding traders can add an upper 80 and lower 20 level lines to the indicator. The trading strategy is to enter the markets once the price reaches overbought or oversold conditions.

If the indicator line moves lower than 20 and then reverses above it, it indicates the oversold level. Traders anticipate the price to move higher as new buyers may find the price attractive. So traders can enter the markets with a buy trade and place a stop loss below the previous swing low. Oppositely, traders can hold the positions and book profits once price reaches the other extreme.

A similar trading strategy can be followed once the indicator values reaches above 80 and reverse. This indicates an overbought condition and warrants a sell trade.

Conclusion
In summary, the RSX powered JMA indicator for MT4 is a better and smoother version of the classic RSI. Specifically, it provides better overbought and oversold forex trading signals.