RSI Extreme Zones indicator for MetaTrader 4 (RSI EZ) Download - Free - [Trading Finder]

The RSI Extreme Zones indicator is an advanced oscillator based on the classic 14-period RSI, available on the MetaTrader 4 (MT4) platform. This oscillator (RSI EZ) visually displays color changes: when the RSI oscillator enters the overbought zone (above 70), it turns red, and when it enters the oversold zone (below 30), it turns blue. This feature helps traders quickly and accurately identify when the price enters extreme zones on the chart, enabling them to make better trading decisions.

Indicator Table

Buy Signal (Uptrend Signals)

In the 4-hour Bitcoin Cash (BITCOINC) chart, the RSI oscillator turns blue when the price enters the oversold zone (below 30). When the oscillator moves back above the 30 level, the RSI EZ indicator issues a buy signal on the chart. This feature helps traders accurately identify potential entry points for buy trades.

Sell Signal (Downtrend Signals)

In the daily WTI Oil chart, the RSI oscillator turns red when it enters the overbought zone. When it exits the overbought zone, the RSI EZ indicator issues a sell signal to alert traders, helping them prepare for potential sell trades.

Indicator Settings

• rsi period: 14
• Level up: 70 (overbought level)
• Level down: 30 (oversold level)
• Up arrow code: Signal arrow code 233
• Down arrow code: Signal arrow code 234
• Arrow distance: 10
• Use Aralert: Signal alert set to false

Summary

The RSI Extreme Zones (RSI EZ) indicator is ideal for identifying reversal points. Similar to the standard RSI, it is simple to use and suitable for beginner and intermediate traders. The RSI EZ indicator provides buy and sell signals to notify traders when the price exits extreme zones.