RSI indicator for MetaTrader4 (MT4) – free download
April 20, 2020 by Simon in indicators
In this section you can download RSI indicator for MetaTrader4 (mt4):
RSI indicator -> up to speed:
- The RSI is a momentum indicator used in technical analysis that measures the speed and magnitude of recent price changes to evaluate overvalued or undervalued conditions.
- The indicator was developed by J. Welles Wilder Jr. and introduced in his 1978 book, New Concepts in Technical Trading Systems.
- The primary use of the RSI is to identify overbought or oversold securities, but it can also signal when a security may be primed for a trend reversal or corrective pullback.
- To properly interpret RSI readings, it is important to take into account the overall trend of the security’s price movement. For example, an oversold reading during an uptrend is probably much higher than 30, while an overbought reading during a downtrend is much lower than 70.