Fozzy Alert Indicator for MetaTrader 4 – Free Download [TradingFinder]

The Fozzy Alert Indicator in the MetaTrader 4 platform combines three technical analysis tools (Moving Average, Relative Strength Index, and Bollinger Bands) to precisely analyze market conditions and identify critical buy and sell zones.

This indicator evaluates overbought and oversold levels and simultaneously filters signals through the Moving Average, enabling traders to analyze financial market trends effectively.

Fozzy Alert Indicator Table

The general specifications of the Fozzy Alert Indicator are presented in the table below.

Fozzy Alert Indicator at a Glance

The mechanism of the Fozzy Alert Indicator is based on the interaction between RSI, MA, and Bollinger Bands. The RSI indicator monitors market oscillations and highlights overbought or oversold zones.

In contrast, the MA follows the overall market trend and acts as a filter for validating stronger reversal or continuation points within the Bollinger Bands.

Indicator in an Uptrend

In an uptrend, the indicator illustrates conditions that show strong buyer dominance and the potential for further bullish continuation.

When the price enters the oversold zone, it signals weakness in sellers and the market’s readiness for a reversal. Additionally, the MA crossing above the RSI acts as a confirming signal. Formation of bullish candlestick reversal patterns such as the Bullish Pin Bar or Bullish Engulfing further strengthens this level.

Indicator in a Downtrend

In a downtrend, increasing selling pressure creates the possibility of a bearish continuation.

Here, when the price enters the overbought zone, it is the first sign of buyer weakness and the market’s preparation for correction or reversal. Following this, the MA crossing below the RSI confirms the setup and highlights an ideal zone for sell entries.

Fozzy Alert Oscillator Settings

The image below shows the settings panel of the Fozzy Alert Oscillator in MetaTrader 4:

• RSI Period: Calculation period of the Relative Strength Index
• RSI MA Period: Moving Average period applied to RSI
• Bands Period: Number of periods for band calculation
• Bands Shift: Shift of the bands relative to the current candlestick
• Bands Deviation: Standard deviation coefficient of the bands
• Alerts ON: Enable alerts
• Message Alert: On-screen text alert
• Email Alert: Alert via email
• Sound Alert: Audio alert
• Sound File: Alert sound file

Conclusion

The Fozzy Alert Indicator in MetaTrader 4 is designed by combining Moving Average and RSI to identify critical entry and exit points in the market.

This trading tool determines potential reversal or continuation zones by detecting overbought and oversold levels. Furthermore, signals generated from MA and RSI crossovers, along with trading volume and valid candlestick patterns, provide high accuracy.