Introducing the JRSX Forex technical indicator. This indicator can be installed on MT4. Traders using this indicator use it for confirming trades. It is a very simple trading tool but it cannot be used on its own as a complete trading system. The smartest way to use this indicator is to combine it with other indicators like moving averages, Bollinger bands, parabolic SAR and many more others. What this indicator actually does is to measure the strength of the trend. It tells which force is stronger in the markets either the bulls or the bears. Achieving consistent results with this indicator requires a lot of discipline. The most important feature is that you can actually use this indicator on any timeframe.
If you install JRSX Oscillator, Your platform should look like this:
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The RSX Oscillator is a histogram that fluctuates in the positive and negative territory. When this indicator is positive, it indicates buyers are controlling the overall trend and when this indicator is in the negative territory, it indicates that buyers have given up their control to the bears and the overall trend is bearish. You can increase your success rate by taking trades only in the direction of the trend.
Buying Conditions Using JRSX Oscillator.
- The market should be up trending.
- The market should be bouncing from the recent swing low.
- RSX indicator should rise to the positive territory from the negative territory.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the RSX indicator dives into the negative territory.
Selling Conditions Using JRSX Indicator.
- The market should be down trending.
- The market should be falling from the recent swing high.
- RSX indicator should fall to the negative territory from the positive territory.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the RSX indicator rises into the positive territory.
Download Free Forex JRSX Oscillator Indicator
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