Forex indicator premier fx v5

This indicator is designed to detect potential reversal points in the Forex market, combining candlestick patterns with RSI and price action conditions to generate BUY and SELL signals.

⚙️ How It Works:
Key Concepts Used:

Bullish Engulfing + RSI below 50 + recent price drop → BUY signal

Bearish Engulfing + RSI above 50 + recent price rise → SELL signal

Candle must be “stable” (strong movement relative to true range)

Conditions for a BUY:

Bullish engulfing candle

RSI is below 50 (oversold zone)

Price is lower than 5 candles ago (downward momentum)

Candle shows strong price movement

Conditions for a SELL:

Bearish engulfing candle

RSI is above 50 (overbought zone)

Price is higher than 5 candles ago (upward momentum)

Candle shows strong price movement

Visuals:

Green "BUY" label below candle when a bullish signal is detected

Red "SELL" label above candle when a bearish signal is detected

Alerts:

Preconfigured alerts for BUY and SELL signals, ready for automation or notifications

This tool is best suited for Forex traders seeking reliable entry points based on price action, RSI, and candlestick reversals. Use it on your preferred timeframes and pair it with your risk management strategy.