Re: RSI Indicators for MT4

1962
RSI Troughs


Attached is a template to find the Troughs.
You know, the Valleys, the bottoms.

H1 and higher are the best timeframes.

For now, we will use RSI (2) to RSI (9) to find the bottoms.

Stoch (4,3,1) is very close to ZeroLag Stoch (5,3,3).
We will use the Stoch to enter a trade.

Also check out to see if CCI can find Peaks and Troughs over here:
viewtopic.php?p=1295481551#p1295481551
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Re: RSI Indicators for MT4

1963
Banzai wrote: Mon Jun 27, 2022 4:49 am
RSI Peaks and Troughs

Use this template to see the overbought and oversold areas.


The image above shows the RSI clearly breaking above the 70 level resulting in an overbought reading.
But a seasoned trader will not look to immediately sell because there is uncertainty as to how far price could continue to rally.
Traders ideally will wait until the RSI falls back below 70 and then place a short trade.
This gives a better entry and a higher probability trade.
When the RSI falls below 30, same rules apply.
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Download:

Color RSI (arrows alerts) ahtf.mq4

Re: RSI Indicators for MT4

1964
Banzai wrote: Fri Jul 01, 2022 12:21 am Use this template to see the overbought and oversold areas.
If this approach works for you: brilliant! I wish you all the best using it...
However, my thoughts about overbought and oversold:
Rising RSI (or Stoch, for that matter) means rising momentum - so 80 (and above) means extremely strong momentum; to sell there is madness (except in ranges, sometimes...)
20 and below: opposite rules apply....

A more logical approach:
RSI
< 50: look for sell-entries
> 50: look for buy-entries
Of course this is a simplification.
(as you can see from the screenshot you have to imagine 50 more as an area than a line...)
[Could you have made money today using this oversimplistic principle? Yes, you could....
That could mean: your coloured areas aren't entry-areas but exit-areas...]
Attachments
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Re: RSI Indicators for MT4

1968
mntiwana wrote: Fri Feb 24, 2017 10:13 am Some RSI candles and bar versions here

MTF Rsi Candle All in One
Nonlag RSI Candles mtf alert nmc
RSI MTF candles_2
Image

Image

Image
@mrtools
Hello, this is my first post in this forum... Its incredible job you guys are doing. I have gained lot of knowledge from this forum I'll be grateful
My request is for to add RSI MTF candles_2 with arrow and alert.
Thank you

Re: RSI Indicators for MT4

1970
RSI OB OS
(on/off button)

I'm going to rename this indicator to OB OS.
Only super coder like mladen and mrtools can find the peaks and the troughs.

OB = overbought
OS = oversold

For this indicator, if you see a candlestick under the SMA (20),
which is also the middle line of the Bollinger Band,
and a bunch of red dots in the oversold area,
then it's a downtrend.
Vice versa for an uptrend.
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