Technical Indicators for MetaTrader 4
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MetaTrader 4
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Overview
The indicator displays entry signals based on RSI location in overbought/oversold zones on all the timeframes beginning from the current one up to the highest (MN). If RSI is less than Zone but more than (100-Zone), the appropriate indicator value is filled for the timeframe:
- M1 - from 0 to 10 (sell) or from 0 to -10 (buy);
- M5 - from 10 to 20 (sell) or from -10 to -20 (buy);
- M15 - from 20 to 30 (sell) or from -20 to -30 (buy);
- M30 - from 30 to 40 (sell) or from -30 to -40 (buy);
- H1 - from 40 to 50 (sell) or from -40 to -50 (buy);
- H4 - from 50 to 60 (sell) or from -50 to -60 (buy);
- D1 - from 60 to 70 (sell) or from -60 to -70 (buy);
- W1 - from 70 to 80 (sell) or from -70 to -80 (buy);
- MN - from 80 to 90 (sell) or from -80 to -90 (buy).
Parameters
- RSI Period - RSI indicator period (default is 14).
- Zone - overbought/oversold area size (default is 30).
