Chain Price RSI Indicator
Info
The Chain Price RSI Indicator is a Indicator for MetaTrader 4 that the chain price rsi indicator is a powerful tool for forex traders, combining the relative strength index (rsi) and moving average (ma) indicators. This indicator provides trend line arrows with clear directions for order placement.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Chain Price RSI Indicator
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
The Chain Price RSI indicator is a powerful tool for forex traders, combining the Relative Strength Index (RSI) and Moving Average (MA) indicators.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: Institutional Ehlers Fisher Transform: Advanced Price Normalization for MT4 - another powerful indicator for MetaTrader 4 traders.
The Chain Price RSI indicator is a powerful tool for forex traders, combining the Relative Strength Index (RSI) and Moving Average (MA) indicators.Also recommended: i market price 2.1 - real-time price information indicator - similar indicator with strong performance on MetaTrader 4.
This indicator provides trend line arrows with clear directions for order placement.
Here's how to use the Chain Price RSI indicator:
- Blue Arrow (Buy): When the arrow appears below level 62.
- White Arrow (Sell): When the arrow appears above level 38.
- Sell: When the blue arrow touches or crosses the 80 level, indicating a potential price reversal.
- Buy: When the blue arrow touches or crosses the 20 level, suggesting an upward price movement.
- Trend Line Interaction: If the arrow crosses the trend line (red line) from bottom to top, expect a price rise. Conversely, if the arrow crosses the trend line from top to bottom, anticipate a price decline. The price action should generally follow the trend line.
Last update: 20/03/2026 - Bug fixes related to the use of movingaverages.mqh.
You may also like: exchange price indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property version "1.00"
#property strict
#include <movingaverages.mqh>
#property indicator_separate_window
#property indicator_buffers 10
#property indicator_color1 clrnone.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.