The general usage of that gauge is divergences detection and correction or retracement even before it occurs.
The indicator is displayed in a separate window below the main mt5 trading chart.
It fits all kinds of mt5 timeframes and mt5 currency pairs.
The default mt5 forex indicator settings can be modified directly from the input tab. Feel free to experiment with the mt5 indicator settings and parameters to fit your preferences.
How to set up the RSI Slope Divergence MTF indicator in MT5?
Copy and paste the rsi-slope-divergence-indicator-mtf.mq5 or rsi-slope-divergence-indicator-mtf—ex5 indicator files into the MQL5 folder of the MetaTrader 5 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL5 > Indicators (paste here).
Now go to the left side of your MT5 terminal. In the Navigator, find the gauge name, right-click it, and select Attach to the chart.
The RSI Slope Divergence indicator MTF is worth adding to your trading collection but remember to have realistic expectations. Like any other technical analysis tool, it cannot provide accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your trading system based on it.
RSI Slope Divergence MT5 Forex Indicator Free Download
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