is here anyone who can help me explain the details of RSI indicators that we have on mt4? levels, parameters and so on…thanks in advance
The parameter is the amount of days that are used to calculate the Rsi. Supposedly, if the Rsi is higher than it’s high level or 70 or 80, then, the market is overbought. Vice-versa on the lower side of the Rsi. I’m not sure, or doubt that the Rsi has any basis in reality when it says that the market is oversold, but that is just my personal opinion. Maybe you will find a use for it.
Yes, that is the general examination of RSI trading indicator! By the way, time frame is another important parameter here!
RSI = 100 – [100 / ( 1 + (Average of Upward Price Change / Average of Downward Price Change ) ) ]
RSI stand for Relative Strength Index. Strength is the keyword.
Above 50 strength is bullish, Below 50 Strength is bearish.
In ranging market : buy low sell high, sell high buy low.
In Trending market : buy high sell higher, sell low sell lower.
MOST IMPORTANTLY!
After entering your position, close your eyes and pray VERY hard.
You’d be better off to learn how RSI is calculated and apply that knowledge to what it is actually portraying (in terms of movements in price).