The RSI Alert indicator is a classic RSI that issues an automatically triggered alert if a predetermined threshold is exceeded. This indicator is set up as a classic indicator, a video tutorial explains how to do this.
Once installed, the indicator, in addition to giving you the usual indication sends you an alert if a certain threshold is exceeded. This can allow you to track multiple underlyings in several different time units without having your eyes glued to the screens.
There are several possible trading strategies to apply with the RSI indicator, areas of over-buying or overselling can be reported at the entry or exit of the zone.
An indicator is more flexible than a trading robot, the MT4 platform allows for example to install several indicators on the same graph, which means that it is possible to define several alerts on several technical indicators and thus create its own trading strategy.
The strategy used can make it possible to signal the exits of overbought or oversold zones and to track several assets simultaneously. Indeed, it is enough to place this indicator on all the charts to be watched, the alert indicates you on which underlay takes place the overtaking, then it is up to you to play …
Available Alerts allow you to issue an alert for these types of policies:
- RSI entry into overbought or oversold area
- RSI output from overbought or oversold area
- Crossing the RSI with zone 50
The audible and visual alert appears as soon as the conditions are met and catches your attention in real time. You will not miss a trade by inattention …
Présentation en images
The RSI is an indicator of the family of oscillators that varies between 0 and 100, and which indicates areas of over-buying and overselling. In fact, the larger the bullish variations, the closer the RSI will be to 100, and the stronger the bearish variations, the closer it gets to 0.
Calculation: RSI (over n periods) = 100 – 100 / (1 + p) with p = (averages of the increases over the last n periods) / (average of the decreases over the last n periods).