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