Trading with RSI

Trading with RSI
Make informed trading decisions with a robust momentum indicator on MT4. Identify overbought or oversold conditions in asset price.

What is RSI?

The Relative Strength Index or RSI is a technical analysis tool that measures the degree of change in the price of an asset. It is a momentum oscillator and ranges between 0 and 100.

Interpreting RSI

  • When RSI is >50, the trend is bullish
  • When RSI is <50, the trend is bearish
  • When RSI is >70, the trend is bullish, and the price is potentially overbought
  • When RSI is <30, the trend is bearish, and the price is potentially oversold

Setting Up the Relative Strength Index (RSI) on MT4

There are over 50 pre-installed technical indicators on MT4, including RSI. Here are some simple steps to launch and apply RSI to your charts.

  • Click on “Insert” in the “Navigation” window.
  • Move your mouse over “Indicators” and then “Oscillators”
  • Click on “Relative Strength Index”

After this, the “Settings” dialogue box will appear. Now you can change the parametres of the index, according to your strategy. There are two parametres:

  1. Number of periods used for RSI
  2. Visuals, such as colour of the lines, thickness, etc.

You can also change the parametres of the indicator directly from the chart.

  • Right-click on the RSI line to get the Settings menu.
  • Choose the “RSI (14) Properties” option. Here, 14 is the default period parametre, you can change this to your preferred timeframe.
  • If you want to delete the indicator, simply click on “Delete Indicator” in the same menu.

RSI is a useful technical indicator for evaluating the strength of the current market trend. Learn more about how to it to use to make informed trading decisions.

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