RSI Ichimoku Strategy Indicator MetaTrader 4 - [TFlab] Free

The RSI Ichimoku Indicator for the MetaTrader 4 (MT4) platform is an advanced hybrid tool that integrates the Ichimoku Cloud structure with the Relative Strength Index (RSI) to generate dynamic entry and exit signals. This powerful indicator combines momentum analysis and trend direction in a single framework, providing traders with enhanced decision-making capabilities.

You can download it from this link:

https://cdn.tradingfinder.com/file/3...4-by-tflab.zip

You can also access the MetaTrader 5 version of this indicator through this page:

https://www.forexfactory.com/thread/...trader-5-tflab

For instructions on how to install:

https://www.forexfactory.com/thread/...-in-metatrader


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Key Functional Overview
This analytical solution simultaneously evaluates market momentum through the RSI line and detects trend structure using Ichimoku components. The synergy between these two methodologies enables traders to identify overbought and oversold conditions within prevailing market trends.

Key Features

1. Indicator Categories: Oscillators, Volatility Indicators, Currency Strength Indicators
2. Platform Compatibility: Designed for MetaTrader 4 (MT4)
3. User Level: Suitable for intermediate traders
4. Indicator Type: Reversal-based technical indicator
5. Timeframe: Compatible with multi-timeframe analysis
6. Trading Style: Ideal for intraday trading
7. Applicable Instruments: Forex, Stocks, Shares, and Cryptocurrency

Market Trend Analysis with RSI Ichimoku

Uptrend Signal Conditions
During an uptrend scenario, such as the EUR/CHF pair on a 5-minute timeframe, a valid buy signal is triggered when the RSI line crosses above a bearish Kumo Cloud. This movement typically occurs at the conclusion of a downward phase, where selling pressure is weakening, indicating a potential reversal to the upside.

1. Signal Confirmation: RSI crossing above bearish Kumo
2. Interpretation: Emerging bullish momentum within a transitional market phase

Downtrend Signal Conditions
In contrast, a sell signal may occur during a downtrend, such as observed in the CHF/JPY pair. When the RSI line breaks below a bullish Kumo Cloud, it suggests an overbought condition transitioning into selling pressure. This technical pattern signals a possible trend reversal to the downside.

1. Signal Confirmation: RSI crossing below bullish Kumo
2. Interpretation: Bearish sentiment gaining strength in overbought territory

Indicator Configuration and Settings
The RSI Ichimoku Indicator offers customizable settings that enable traders to tailor the indicator according to their preferred analysis style and timeframe.

Adjustable Parameters Include:

1. Tenkan – Tenkan-sen (conversion line)
2. Kijun – Kijun-sen (base line)
3. Senkou – Leading span A and B (cloud boundaries)
4. RSIp – RSI configuration (e.g., period, smoothing)
5. CL-Style – Component display options for visual clarity

Conclusion
The RSI Ichimoku Indicator effectively merges the strengths of the Ichimoku Kinko Hyo system and the Relative Strength Index into a comprehensive technical analysis tool. By identifying both momentum shifts and trend structures, it offers more precise signals for entering or exiting trades.
This indicator is especially beneficial for traders seeking to combine trend-following strategies with oscillator-based confirmation, making it a valuable asset in a variety of market conditions.

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