RSI Multi Length Indicator for MT5 Download – Free – [TradingFinder]

The RSI Multi Length indicator simultaneously analyzes multiple values of the Relative Strength Index, adapting to different market conditions.

Based on its data analysis, the indicator draws two horizontal levels in green and red to identify overbought and oversold zones.

The position of the RSI curve relative to these levels facilitates the identification of entry and exit points.

Specifications Table for the RSI Multi-Length Indicator

The specifications of the RSI Multi Length indicator are listed in the table below:

RSI Multi Length Indicator at a Glance

Buy and sell signals are triggered when the Relative Strength Index (RSI) curve penetrates the defined levels.

If the “RSI” line crosses above the red level, the indicator issues an overbought warning by displaying a red dot. In contrast, when the “RSI” drops below the green line, it indicates entry into the oversold zone.

Buy Setup

According to the GBP/USD chart on the 1-hour timeframe, the “RSI” index falls below the green level, and the indicator highlights this drop using green dots.

As shown in the image, these green dots signal entry into the oversold area and can be considered potential buy signals.

Sell Setup

Based on the EUR/USD pair chart, the “RSI” line enters the overbought zone, and the indicator marks this with red dots.

In this case, these red dots are considered signals to evaluate potential sales opportunities.

RSI Multi Length Indicator Settings

The configurable options of the Relative Strength Oscillator with multiple lengths are as follows:

• Maximum Length: Longer period for RSI calculation, generates slower signals, and reduces noise
• Minimum Length: Shorter period for RSI calculation, quicker response to price changes
• Overbought: Alert level for overbought condition
• Oversold: Alert level for oversold condition
• Applied Price: Type of price used for RSI calculation

Conclusion

The RSI Multi Length indicator calculates the RSI across various timeframes simultaneously, providing more accurate signals compared to the classic version.

By displaying overbought and oversold areas using colored lines and marking RSI penetration points, this tool facilitates the identification of price reversal zones.