Advanced RSI Indicator
For Advanced and Beginner Traders
One of the most popular technical analysis indicator is the Relative Strength Index (RSI) is an oscillator that measures current price strength in relation to previous prices. The RSI is a highly recommended tool for traders, it can be used to:
Generate BUY and SELL signals
Show Overbought and Oversold conditions
Warn of price reversals through divergences
How to use RSI Indicator
The ( RSI ) Relative Strength Index Indicator is going to measure price changes over the past XX periods
(where XX being the input that you can enter into the indicator. Default is 14.)
If you set RSI of 14 periods, it will measure the strength of this unclosed candle's price movement against the previous 13 closed candles (for a total of the last 14 periods). If you use RSI Indicator on 28 periods, you will be measuring this candle's strength or weakness to the last 27 periods. The higher or more periods you use, means "slower" the indicator will appear to react to recent price changes. (Lower number of periods = more signals).
As a momentum oscillator, RSI Indicator will read a value between 1 and 100, and it will show you how strong or weak price has been over the observed number of periods. If RSI is reading above 70, traders will often construe that to mean that price action has been strong, and the asset being charted may be "Over Bought".
RSI Buy Signal
Buy when the RSI crosses above the oversold line (30).
RSI Sell Signal
Sell when the RSI crosses below the overbought line (70).
RSI Divergences Relative Strength Index
An alternative way that the Relative Strength Index (RSI) gives buy and sell signals is given below:
Buy when price and the Relative Strength Index are both rising and the RSI crosses above the 50 Line.
Sell when the price and the RSI are both falling and the RSI crosses below the 50 Line.
1. Period: Default settings is 14. Here you can set your measured time as per your timeframe.
2. ApplyTo: Defaults settings is Close Price. Here you can set which point of price are calculated. Close Price = measured at the end of candle, closed candle.
3. Oversold Below: Here you can set a lowest level of RSI Indicator between 1 - 100 . Default is 30. If RSI value is going under this level you can get an alert, also you will get another alert if RSI level came back from this (30) level.
4. Overbought Above: Here you can set the a highest level of RSI Indicator between 1 - 100 . Default is 70. If RSI value is going above of this level you can get an alert (overbought), also you will get another alert if RSI level came back from this (70) level.
5. Alert Enabled: true/false : you can turn ON or OFF the trading alert function.
6. PushNotificationEnabled: true/false : true = ON , in this case MetaTrader 4 terminal will send you a push notification to your phone when there is an alert (OverBought or OverSold) more instruction in MetaTrader 4.
7. EmailAlertEnabled: true/false : true = ON , in this case MetaTrader 4 terminal will send you an email to your previously set email address when there is an alert (OverBought or OverSold) more instruction in MetaTrader 4.
Fully Customisable, Easy to Use
Quantina Advanced RSI Indicator for MetaTrader 4 Platform
has a Built-In Alert notification function if there is a Signal Crossing.
Instant Alerts to your MetaTrader 4 Terminal, Email and/or to your Smart Phone by a Push Notification
Free of charge
1. Open your MetaTrader 4 terminal.
2. Go to File \ Open Data Folder
3. Copy your downloaded Quantina_Advanced_RSI_Indicator.ex4 file into your MQL4 \ Indicators folder.
4. Restart or your MetaTrader 4 Treminal or Refresh your Indicator list.
5. Open any currency pair chart with any timeframe.
6. Attach your Quantina_Advanced_RSI_Indicator.ex4 from the Navigator Window under the indicators tab to the opened chart.
7. At the first start of indicator MT4 terminal needs an extra 3-5 sec for the automatic registration. There is no need any license key.
It works on every timeframe and every type of broker.
ECN/STP DD/NDD comapatibility
Windows and MAC compatibility
(Tested with Parallel Desktop)
Quantina Intelligence Limited is running a Forum site for registered customers. Also, we answer all the support emails usually in 24-72 hours.
Lifetime Upgrade Availability
We are continously developing our products. Quantina Advanced Moving Average Indicator includes the free upgarde as your selection.
One time Payment
No monthly fee. Displayed prices are final , there are no any hidden fees. TAX and VAT are also included.
Pay by PayPal confidence. PayPal account is not required.
(Visa, Visa Debit, Visa Direct, Master, American Express cards accepted by PayPal)