Login / Register
Add a review
Log in
Sign UP

The Relative Strength Index (RSI) indicator, developed by J. R. R. Tolkien. Wells Wilder, is a pulse oscillator that determines the overbought and oversold states. It is also popular among many traders who use it to find entry points to the market.

The easiest way to use the Relative Strength Index is to wait for the overbought and oversold state to appear, and then enter the trade when the RSI indicator indicates the continuation of the price movement in the dominant trend direction.

  • Buy signals: to meet the first condition, you need the RSI value to be below 30, thereby indicating an extremely oversold market. The indicator then waits until the price crosses the 30 level up, indicating a recovery in the strength of the bulls.
  • Sell signals: for sell signals, the opposite conditions apply. A sell signal is formed when the RSI becomes overbought (a value greater than 70). You will get a notification when the value crosses the 70 down line.

  • RSI_Period: The period of the RSI indicator (default is 14).
  • Send_Email: Notifications by e-mail.
  • Audible_Alerts: Standard notifications via the alert window in MetaTrader 4, with the sound turned on.
  • Push_Notifications: Push notifications to your mobile device via the MetaTrader 4 app for iOS/Android.

[spoiler title=”

This simple indicator has been designed to save you time by alerting you when these conditions are met. After that, you need to conduct additional analysis before deciding whether to open a trade.

For example, trend analysis can filter out a lot of false signals that the RSI indicator can give. To improve the accuracy of the RSI alerts indicator, you can use other indicators or additional skills.


Add review
Reviews ( 0 ):