RSI Indicators for MetaTrader 4

RSI indicators or the Relative Strength Index in MetaTrader 4 are one of the oscillation tools in technical analysis, used to measure the relative strength of price movements over a specific time period. This numerical index displays a value between zero and one hundred, with the default period usually set to 14 time units. The RSI calculation is based on the ratio of average gains to average losses. The result of this ratio, after being converted to a scale of 100, is plotted as a continuous line on the chart. Analysts often use levels above 70 as the overbought zone and levels below 30 as the oversold zone; however, these levels can be interpreted differently in certain market conditions. Users can download these indicators for free from Trading Finder. The behavior of the RSI oscillator near the set boundaries can indicate a potential price reversal or trend continuation. In addition, examining divergences between the price chart and the RSI line plays an important role in identifying trend weakness and turning points.