"RSI" is known as an indicator for determining overbought and oversold levels in a market.
However, the RSI can also be used to determine trends. Specifically, if the RSI is 50 or more, it is considered that the market is in an uptrend, and if it falls below 50, that market can be considered a downtrend.
Here, we introduce the indicator "RSI_Trend" for MT4, which is useful for trend determination using the RSI indicator.
1. It is not recommended to trade using only the "RSI_Trend" indicator alone.
The RSI tends to work better when combined with other indicators. Therefore, let's make a trend judgment with this indicator and make an entry with another indicator such as a moving average.
Download the "RSI_Trend" indicator from the button below
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