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Free RSI Metatrader 4 Indicator

This indicator is called the Free RSI indicator. It’s an advanced RSI indicator based on RSI, 3 Moving Averages and Envelope periods.

Trading Signals

Buy signal: Wait for all lines to cross above the green moving average line from below (bullish)
Sell signal: Wait for all lines to cross below the green moving average line from above (bearish)

Best signals:

For buy: wait for a bullish cross around 30 level (oversold)
For sell: wait for a bearish cross around 70 level (overbought)

Use in conjunction with other indicators or trend analysis tools.


Download the freeRSI.mq4 indicator

Configurable Indicator Options

RSI, MA1, MA2, MA3, EnvPeriod, EnvDeviat,…

USD/JPY H1 Chart Example


How to install the Free RSI custom indicator in Metatrader 4?

  • Download the freeRSI.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.