Introduction to the Turbo JRSX Indicator
Momentum and trend direction as well as its reversals are often difficult to identify or anticipate based on a naked chart. One way traders can identify trends and trend reversals more easily is with the use of an oscillator. The Turbo JRSX was developed to help traders identify trends and trend reversals more easily using an oscillator line.
What is the Turbo JRSX Indicator?
The Turbo JRSX Indicator is a trend following momentum indicator which presents the direction of the trend as an oscillator. This indicator plots a line which oscillates within the range of zero to 100.
The line that it plots is relatively smoother compared to other types of oscillators. Given this characteristic, this oscillator line tends to produce a trend indication which is more reliable compared to other short-term oscillators.
Trend and momentum direction can be identified based on how the oscillator line slopes. The momentum direction is bullish whenever the trajectory of the line is upward and bearish whenever the trajectory of the line is downward.
This oscillator line can also be used for identifying potential mean reversals coming from overbought and oversold markets. This can be identified based on the oscillator line reversing while being near to zero (oversold) or 100 (overbought).
It can also be used as a basis for identifying reversals based on divergences when compared with the swing points on the price chart.
How the Turbo JRSX Indicator Works?
The Turbo JRSX Indicator uses a complex algorithm to calculate for its oscillator line. It begins by calculating for the Typical Price, which is the average of the high, low, and close. It then multiplies this value by 100. Various calculations are then derived from this value. The resulting value is then used to plot the oscillator line.
How to use the Turbo JRSX Indicator for MT4
The Turbo JRSX has just one variable which can be modified within its indicator settings.
“Len” refers to the length or number of periods used to calculate for the Turbo JRSX oscillator line.
Buy Trade Setup
When to Enter?
Observe the market for potential reversals based on a bullish divergence. Open a buy order on the confluence of a bullish divergence and a bullish price action.
When to Exit?
Close the trade as soon as price action starts to show signs of a possible bearish reversal.
Sell Trade Setup
When to Enter?
Observe the market for potential reversals based on a bearish divergence. Open a sell order on the confluence of a bearish divergence and a bearish price action.
When to Exit?
Close the trade as soon as price action starts to show signs of a possible bullish reversal.
The Turbo JRSX Indicator is a useful oscillator that can be used for a variety of trading styles. It can be used to identify momentum and trend, trade mean reversals coming from overextended market runs, and trade reversals based on divergences.
Some traders would also add markers on the range of the Turbo JRSX oscillator to help them identify potential mean reversals and identify the bias of the momentum or trend direction.
MT4 Indicators – Download Instructions
This is a Metatrader 4 (MT4) indicator and the essence of this technical indicator is to transform the accumulated history data.
This MT4 Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly. Click here for MT4 Strategies
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How to install MT4 Indicator?
- Download the mq4 file.
- Copy mq4 file to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 4 Client
- Select Chart and Timeframe where you want to test your MT4 indicators
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 4 Client
- Right click on the mq4 file
- Attach to a chart
- Modify settings or press ok
- And Indicator will be available on your Chart
How to remove MT4 Indicator from your Metatrader Chart?
- Select the Chart where is the Indicator running in your Metatrader 4 Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download: