As the indicator’s name suggests, the Extreme RSI Forex Signals MT4 Indicator is based on the popular RSI (relative strength index) technical indicator.
It provides you with buy and sell signal arrows that are based on the RSI extreme levels, 0 and 70.
It’s recommended to use the RSI indicator together with additional technical indicators or with price action.
The Extreme RSI Forex indicator helps in identifying profitable buy/sell trade opportunities when the trend is exhausted .
Try out this indicator. You can download it for free below!
Key Takeaways
- A blue Extreme RSI up arrow represents a buy opportunity.
- A blue Extreme RSI down arrow represents a sell opportunity.
- Does not repaint.
- One of the most popular technical indicators among traders.
Feel free to explore the Extreme RSI Forex Signals MT4 indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Download the “extreme-rsi-indicator.ex4” Metatrader 4 indicator
Indicator Example Chart (NZD/CAD M15 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Extreme RSI Forex Signals MT4 Indicator
Buy Signal: Execute a buy trade order when the Extreme Forex RSI indicator prints a buy arrow on the chart. Confirm the trade with additional indicators or with price action.
Place stop loss 3 pips below support, or use your own favorite SL method.
Close the buy trade when the indicator prints an opposite arrow on the chart, or use your own favorite take profit method.
Alternatively, close the buy trade for a reward/risk ratio of 1.5 or better.
Sell Signal: Execute a sell trade order when the Extreme Forex RSI indicator prints a sell arrow on the chart. Confirm the trade with additional indicators or with price action.
Place stop loss 3 pips above resistance, or use your own favorite SL method.
Close the sell trade when the indicator prints an opposite arrow on the chart, or use your own favorite take profit method.
Alternatively, close the sell trade for a reward/risk ratio of 1.5 or better.
Download This Forex Indicator Now
Download the “extreme-rsi-indicator.ex4” MT4 indicator
Adjustable Parameters
RSI period, colors, width, style.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: RSI
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
