RSI Ichimoku Indicator for MetaTrader 5 - Download - [TradingFinder]

The RSI Ichimoku Indicator on the MetaTrader 5 platform is a technical analysis tool that merges the Ichimoku system components with the RSI indicator, offering trading signals as an advanced oscillator.

This indicator creates zones for entry and exit by simultaneously analyzing trend direction via the Ichimoku cloud and momentum strength using the RSI line.

RSI Ichimoku Indicator Specifications Table

The general features of the RSI Ichimoku Indicator are presented in the table below.

Uptrend Conditions

This chart displays the USD/JPY currency pair in a 15-minute timeframe.

A suitable Buy entry opportunity is formed when the RSI line successfully breaks through the bearish Kumo cloud from below, and selling pressure decreases at the end of a downtrend.

Downtrend Conditions

In the Dow Jones Index (DJI), on a 4-hour timeframe, the market enters an overbought phase when the RSI breaks above a bullish Kumo cloud.

This condition creates a Sell opportunity with weakening bullish momentum and potential price reversal.

Indicator Settings

The image below shows the internal adjustable parameters of the RSI Ichimoku Indicator:

• Tenkan: Tenkan-sen line
• Kijun: Kijun-sen line
• Senkou: Senkou lines
• Rsip: RSI-related settings
• CL Style: Line or component display style

Conclusion

The RSI Ichimoku Indicator combines the Relative Strength Index (RSI) with the Ichimoku system, functioning as an advanced hybrid tool that provides entry and exit signals.

Besides identifying overbought and oversold zones, it analyzes trend direction and identifies dynamic support and resistance levels.