The RSI is one of the most popular indicators in the trading world. It may be said that it is the most popular among the oscillator indicators that are commonly used for determining overbought/oversold levels.
This MT4 indicator is useful for using the RSI more conveniently and also more efficiently. This indicator shows the RSI of various time frames in one sub window under the price chart.
Look at the image above. You should be able to see that the different time frames of the RSI are displayed clearly under the price. This makes it super easy to see what kind of momentum is occurring in which time frame - and with that, easier to spot any potential trading opportunities. This indicator should be especially suitable for people who like tops/bottoms picking and reversal trading.
Basically, it would be good to trade as if it were “overbought if it exceeded 70” and “oversold if it was below 30” as in normal RSI.
In addition, the supported time frame is up to 15-minute chart.
Tips for using :
1. Tops/bottoms picking and reversal trading
2. Momentum/trend analysis
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