Extreme RSI - indicator for MetaTrader 4
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    Extreme RSI - indicator for MetaTrader 4

    Description:

    All we know very well that RSI is a very good technical indicator. I am sharing Extreme RSI with you which will give you a arrow signal automatically when RSI returns back from extreme zone. There is no need to check RSI indicator( 70 and 30 area) again and again.

    Time frame: You can use this in any time frame

    Currency pair: Any currency pair.

    Extreme RSI.JPG
    Attached Files Attached Files

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    Registered user Hukam's Avatar
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    Thanks for sharing this Extreme RSI indicator personally I am using RSI indicator to check about the strong areas like 70 and 30. Arrows are giving bette signals on 70 and 30 area. I will use this indicator very soon in my demo trading account. Can you tell me which time frame I can use for better performance. Can I use this in long term chart?

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    Registered user lawners1791's Avatar
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    yes the indy shows on referring arrows of options with the customs on working of the rsi of obos strategy but those dispose of the false on signals to leaves with the better quotes as those to avoid the use on having of the draw downs with the decision on submitting of the order with the trading.

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    Quote Originally Posted by Hukam View Post
    Thanks for sharing this Extreme RSI indicator personally I am using RSI indicator to check about the strong areas like 70 and 30. Arrows are giving bette signals on 70 and 30 area. I will use this indicator very soon in my demo trading account. Can you tell me which time frame I can use for better performance. Can I use this in long term chart?
    I am using this indicator and yes for sure buddy, you can use it in any type of time frame, I am still testing this in demo trading account and I am not checking now 70,30 line in it. I am just waiting for the arrow which giving me a good signal about overbought and oversold condition. You can test it in long term charts

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    Actually I may adopt another point of view related ti the using of any indicator and the using of the charts mainly to get the suitable trading. according to what happens related to the news . I may find that the news is the most important rule to be used in the trading as we saw the last Friday . was not any indicator could tell us the movement previously

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    Registered user Hukam's Avatar
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    Quote Originally Posted by hosny55 View Post
    Actually I may adopt another point of view related ti the using of any indicator and the using of the charts mainly to get the suitable trading. according to what happens related to the news . I may find that the news is the most important rule to be used in the trading as we saw the last Friday . was not any indicator could tell us the movement previously
    Mate if you want to talk about news trading, then I don't think that, indicator's have any relation with news trading. Because all we know that they not drive the market specially one news impact, We can just get analysis for future market prediction. But the fundamental news is that term, which can affect our trading analysis too.

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    Registered user lawners1791's Avatar
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    the snap looks as the rsi works on delivering the good results on signals qualification that those used to works as to requires more on preset strategy for trader to earns of the contrast on lloking with the drawing of the oscilator lines with the window.

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    Quote Originally Posted by Hukam View Post
    Mate if you want to talk about news trading, then I don't think that, indicator's have any relation with news trading. Because all we know that they not drive the market specially one news impact, We can just get analysis for future market prediction. But the fundamental news is that term, which can affect our trading analysis too.
    Well no matter which type of indicator you are using custom one or third party one, news trading not follow any type of trading signal. No one can surely say that where market will move after news. That's why we can see that most of trader's use pending order that time because there is no perfect indicator or strategy on news trading.

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    Quote Originally Posted by Khimi234 View Post
    Well no matter which type of indicator you are using custom one or third party one, news trading not follow any type of trading signal. No one can surely say that where market will move after news. That's why we can see that most of trader's use pending order that time because there is no perfect indicator or strategy on news trading.
    That's why I not make my trading chart's more complex by using or adding a lot of indicator's on it. There are many good indicator's but make sure that you are using adding them on your chart's according to your trading style. I am a swing trader so I like to use only inchimoku, moving average, etc. But RSI is also a good indicator but trader's should use it only if they are getting any good response from it in their trading.

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    I got no idea about the trading strategy. I used to use the RSI indicator in forex trading. I left using this indicator because I think RSI usually give me the false signal. I like more to use other oscilator indicator in my trading strategy. It is better to share many indicator, indicator in general meaning and also default indicator.

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