Fozzy Alert Indicator for MetaTrader 5 – Free Download [TradingFinder]

The Fozzy Alert Oscillator in the MetaTrader 5 platform combines three analytical tools—Moving Average, Relative Strength Index, and Bollinger Bands—to accurately analyze market conditions and identify key buy and sell zones.

This tool provides a framework for trend analysis in financial markets by examining overbought and oversold ranges and simultaneously filtering signals through the Moving Average.

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 Fozzy Alert Indicator is designed based on the interaction of three technical analysis tools.

In this trading tool, the RSI indicator monitors market oscillations and identifies overbought and oversold zones.

On the other hand, the MA tracks the prevailing market trend and, when combined with Bollinger Bands, acts as a filter to detect valid reversal or continuation points.

Indicator in an Uptrend

In an uptrend, when the price enters the oversold zone, it signals weakening selling pressure and the market’s readiness for a reversal.

Subsequently, the Moving Average crossing upward through the RSI serves as a confirming signal.

Indicator in a Downtrend

In a downtrend, when the price enters the overbought zone, it is the first sign of buyer weakness and the market’s readiness for correction or reversal.

Following this, the Moving Average crossing downward through the RSI acts as a confirming signal and creates a valid zone for sell entries.

Fozzy Alert Oscillator Settings

The image below shows the settings of the Fozzy Alert Indicator:

• 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 5 identifies key entry and exit points in financial markets by combining Moving Average, Relative Strength Index, and Bollinger Bands.

This indicator determines potential reversal or continuation zones by analyzing overbought and oversold levels.