Tarzan INDICATOR V1.00 MT5

Introduction

 Tarzan Indicator V1.00 is a custom oscillator for MetaTrader 5. It combines a smoothed RSI line with a dynamic channel and visual arrows to highlight potential momentum shifts. The indicator works on EUR/USD on the H1 timeframe and displays in a separate subwindow, keeping the main price chart clean.

Key Features

• RSI-based central line smoothed by a moving average
• Dynamic upper and lower channel bands
• Color changes on the central line according to RSI position relative to the channel
• Up and down arrows when the RSI line enters the channel
• Fully adjustable parameters for RSI period, applied price, MA period, MA method, and channel size
• Non-cluttering subwindow display
• Compatible with MT5

Recommended Settings

• Platform: MetaTrader 5
• Pair: EUR/USD
• Timeframe: H1
• RSI period: 5
• RSI applied price: Close
• MA period: 50
• MA method: Simple
• Channel top and bottom size: default or slightly adjusted according to volatility Test these values on historical EUR/USD H1 data and fine-tune if needed for your broker’s conditions.

Advantages

• Provides clearer visual structure than a standard RSI
• Reduces noise through smoothing and channel filtering
• Easy to read arrows and color cues for momentum shifts
• Keeps the main chart free of extra indicators
• Simple to install and customize

Disadvantages

• It is an indicator only and does not place trades automatically
• Signals still require confirmation with price action or other filters
• Performance depends on market conditions and correct parameter settings
• Not ideal for very short scalping timeframes or complete beginners unfamiliar with RSI

Conclusion

Tarzan Indicator V1.00 MT5 offers a practical RSI channel system with clear visual signals suited to EUR/USD on the H1 chart. Traders who understand oscillator concepts and apply proper risk management can use it as a supportive tool for identifying potential momentum changes. Always test thoroughly on a demo account before using it with real funds.

Support & Disclaimer

Support

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Disclaimer:

Forex and gold trading involve risk. Past performance doesn’t guarantee future results. Always test robots on demo before live trading and use proper risk management.