RSI Overbought Oversold Indicator MT5 Download – Free – [TrdingFinder]

The RSI Overbought Oversold Indicator use colored arrows to mark market overbought and oversold areas.

The signals displayed by this tool are recognized as potential price reversal levels.

Traders can combine these signals with the overall market trend to identify optimal entry or exit opportunities.

Specifications Table of RSI Indicator and Overbought/Oversold Zones

The table below describes the specifications of the RSI Indicator and Overbought/Oversold Zones:

RSI Overbought Oversold Indicator at a Glance

The RSI Overbought Oversold Indicator display oversold points with blue arrows, while overbought zones are marked with red arrows.

Bullish Trend Conditions

Based on the GBP/USD 30-minute chart, the indicator detected two entries into the oversold area.

If the market is bullish, these signals are considered opportunities for entering buy trades.

Bearish Trend Conditions

On the BTC 1-hour chart, overbought zones are displayed with red arrows.

RSI Overbought Oversold Indicator Settings

The settings of the RSI Overbought Oversold Indicator are as follows:

• RSIPeriod: RSI calculation period
• RSI_OB: Overbought level
• RSI_OS: Oversold level
• Arrow_Size: Signal arrow size
• Move_Arrow: Arrow distance from candles
• CountBars: Number of candles under review
• ALERT: Alert activation
• EMAIL: Alert via email
• NOTIFICATION: Notification activation
• MESSAGE_TIMEOUT: Alert message interval
• MESSAGE_SUBJECT: Alert subject

Conclusion

The RSI Overbought Oversold Indicator are based on the Relative Strength Index and are capable of identifying market overbought and oversold levels.

After detecting such areas, the tool marks them with arrows on the chart. Traders can use these signals, in line with the dominant market trend, as entry points for buy or sell trades.