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Adding MetaTrader 4 RSI Indicator
Step 1: Open Navigator Window Panel on Stock Indices Trading Platform
Open Navigator panel as illustrated and shown below: Navigate to 'View' menu (click it) and then choose 'Navigator' window (click), or From Standard Toolbar click on 'Navigator' button key or press short-cut key-board keys 'Ctrl+N'
On Navigator window, choose 'Technical Indicators', (Double-Click)
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Adding RSI MetaTrader 4 Indicator
Expand the menu by clicking the expand button marker (+) or double click the 'indicators' menu, after this the button will appear as (-) and will now display a list as shown below - select the RSI indicator from this list of stock indices indicators so as to add the RSI indicator on the stock indices chart.
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How to Add Custom RSI Stock Indices Indicator in MT4 and How to Install RSI MetaTrader 4 Indicator
If the indices RSI technical indicator you want to add is a custom indicator - for example if the RSI technical indicator you want to add is a custom RSI indicator you will need to first add this custom RSI indicator on the MetaTrader 4 software & then compile the custom RSI indicator so that the newly added RSI custom indices indicator pops up on the list of custom indicators on the MetaTrader 4 software.
To learn how to setup RSI indicators on MetaTrader 4, how to add RSI indicator window to MetaTrader 4 platform and how to add RSI custom indicator in MT4 - How to add a custom RSI technical indicator in MT4.
About RSI Indices Trading Indicator Guide
Relative Strength Index Stock Indices Technical Analysis & RSI Trading Signals
RSI is one of the most popular indices indicator and it is a momentum oscillator and a indices trend following indicator. RSI indicator compares a trading stock indices price movement magnitude of the recent stock indices price gains against its magnitude of recent losses stock indices price losses & plots this data on a scale of values which ranges between 0-100.
RSI indicator measures the momentum of indices trading price: trading indicator values above RSI 50 center-line area signify bullish momentum while values below RSI 50 center-line area signify bearish momentum.
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- RSI is drawn as a green line
- Horizontal dashed lines are plotted to identifying overbought & oversold levels are - RSI 70 and RSI 30 levels respectively.
RSI Stock Indices Technical Analysis & Generating Indices RSI Trading Signals
There are several strategies used to trade RSI, these are:
50 center-line Crossover Signals
- Buy Indices Signal - when the RSI indicator crosses above 50 a buy signal is given.
- Sell Indices Signal - when the RSI indicator crosses below 50 a sell signal is given.
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RSI Trading Indicator Indices Trading Patterns
Traders can draw trend lines and identify stock indices chart patterns on the RSI indicator. The RSI often forms stock indices chart patterns such as head and shoulders stock indices pattern which might not have formed clearly on the stock indices price chart - but forms on the RSI indicator.
Support & Resistance Indices Price Breakouts
RSI indicator is a leading indices indicator and can be used to predict Support and Resistance Breakouts before stock indices price breaks its support and resistance level. RSI indicator uses the swing failure indices signal to predict when the stock indices trading price is about to break resistance & support zones.
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Overbought and Oversold Levels on Indicator
- Overbought - RSI levels above 80
- Oversold - RSI levels below 20
These Overbought and Oversold levels can be used to generate indices signals such as when RSI turns up from below 20 after oversold is a buy stock indices signal - and sell signal is when RSI crosses to below 80 after overbought - RSI sell signal.
Divergence RSI Indices Trading Setups
Divergence indices trading is one of the indices technical analysis strategies used to trade indices trend reversals of the stock indices price trends. There are four types of RSI divergences that can be traded with this RSI indicator explained in the indices divergence trading tutorial on this learn indices website.
Best RSI for 1 Hour Stock Indices Chart - Best RSI for 1 Minute Stock Indices Chart - Best RSI for 15 Min Stock Indices Chart - Best RSI for 4 Hour Stock Indices Chart - Best RSI for 5 Minute Stock Indices Chart - Best RSI for Daily Chart Indices
