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Using Two Moving Averages and RSI to Signal Pullback Endings

Article MQL5 code base
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Summary

This indicator description presents a trader aid that combines two moving averages with the Relative Strength Index. It displays arrow signals intended to suggest when a pullback within the day’s prevailing trend may be ending, helping inform trading decisions. The explanation is conceptual; it does not specify the moving-average periods, RSI settings, signal rules, or how the signals should be traded.

The document says the indicator was first implemented in MQL4 and published in 2009. It offers no backtest, performance evidence, market or timeframe guidance, or discussion of false signals. As a result, it describes the intended use of a technical indicator, but leaves its construction and effectiveness unverified.

Key ideas

  • The indicator combines two moving averages with RSI.
  • Its arrows are intended to mark possible endings of pullbacks within the day’s trend.
  • The description does not disclose indicator settings or exact signal criteria.
  • No performance results or guidance on markets and timeframes are given.

Tags

Technical indicatorsTrend followingMean reversion

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.