RSI Extreme Zones indicator for MetaTrader 5 (RSI EZ) Download - Free - [Trading Finder]

The RSI Extreme Zones (RSI EZ) is an advanced oscillator derived from the classic RSI designed for the MetaTrader 5 (MT5) platform. The RSI EZ indicator helps traders identify overbought (70) and oversold (30) levels. When the price moves out of these zones, the indicator provides buy and sell signals, notifying traders of potential trend reversals at these critical points.

RSI Indicator Table

Oversold Zone

In the 15-minute GBP/USD chart, the RSI Extreme Zones (RSI EZ) indicator helps traders monitor the RSI oscillator closely. When the price enters the oversold zone (below 30), the oscillator turns blue, alerting traders to this condition. When the price moves back above the 30 level, the RSI EZ indicator indicates that the price has exited the oversold zone.

Overbought Zone

In the 30-minute NZD/CAD chart, the RSI EZ indicator helps traders track the RSI oscillator's position. When the price reaches the overbought zone (above 70), the oscillator turns red, signaling the entry into the overbought zone. When the price exits this area, the RSI EZ indicator displays a signal, alerting traders to a potential reversal.

RSI Indicator Settings

• RSI Period: Set the RSI period to 14
• RSI Up Level: Set the overbought level to 70
• RSI Down Level: Set the oversold level to 30
• Up Arrow Code: Select the signal arrow shape (233)
• Down Arrow Code: Select the signal arrow shape (234)
• Arrow Distance: Set the distance for signal arrows (10)
• Alert On: Enable or turn off signal alerts (default: false)

Summary

The RSI Extreme Zones (RSI EZ) indicator is a practical and efficient oscillator for traders who use the RSI to identify overbought and oversold zones. With its visual display of these zones and the signals provided when the price exits these areas, the indicator effectively informs traders of essential market changes, helping them make better trading decisions.