The All RSI MT4 indicator is designed to visualize RSI (Relative Strength Index) readings across the 15 Min, 30 Min, 1 Hour, 4 Hour, Daily, Weekly and Monthly chart.
It oscillates between 0 and 100. RSI readings above 70 are considered to be overbought.
RSI readings below 30 are considered to be oversold.
BUY: In uptrends: Wait for the RSI indicator to turn back above 30 from below 30.
SELL: In downtrends: Wait for the RSI indicator to turn back below 70 from above 70.
Use in conjunction with trend analysis tools to determine the primary trend. Don’t use the RSI against the primary trend.
GBP/USD 1 Hour Chart Example
How to install the All RSI custom indicator in Metatrader 4?
- Download the All RSI.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.