Market / MetaTrader 4 / Utilities /

RSI Trend Scanner

70 USD

Published: 2 June 2024

Current version: 3.0

RSI Trend Scanner

Utilities
Jalitha K Johny
Version: 3.0
Updated: 12 July 2024
Activations: 5

An RSI (Relative Strength Index) MT4 (MetaTrader 4) scanner is a tool used in forex trading to identify overbought or oversold conditions across multiple currency pairs and timeframes. The RSI is a momentum oscillator that measures the speed and change of price movements, typically used to identify potential reversal points in the market.

Key Features and Functions of an RSI MT4 Scanner:

Multiple Timeframe Analysis: The scanner can analyze various timeframes (e.g., 1 minute, 5 minutes, 15 minutes, 1 hour, 4 hours, daily) to provide a comprehensive view of the market conditions across different periods.
Customizable RSI Settings: Users can set their preferred RSI period (e.g., 14, 21) and levels (e.g., 30 for oversold, 70 for overbought) to match their trading strategy.
Real-Time Alerts: The scanner provides real-time alerts (sound, email, or pop-up notifications) when a currency pair reaches the overbought or oversold levels.
User-Friendly Interface: The scanner typically has a user-friendly interface that displays the RSI values for multiple currency pairs and timeframes in a grid or table format, allowing for quick and easy analysis.
Filter Options: Traders can filter the currency pairs and timeframes they want to scan, focusing only on those that meet their specific criteria.
Integration with MT4: The scanner is integrated with the MT4 platform, allowing traders to quickly open charts, place trades, and apply other technical indicators for further analysis.

How to Use an RSI MT4 Scanner:

Install the Scanner: Download and install the RSI scanner EA (Expert Advisor) on your MT4 platform.
Configure Settings: Set your preferred RSI period and levels, select the currency pairs and timeframes you want to scan.
Monitor Alerts: Pay attention to the alerts generated by the scanner. When a currency pair reaches the overbought or oversold level, consider it a signal to investigate further or potentially place a trade.
Analyze Further: Use additional technical analysis tools and indicators to confirm the signals generated by the RSI scanner before making trading decisions.

By using an RSI MT4 scanner, traders can efficiently monitor multiple currency pairs and timeframes, identify potential trading opportunities, and make more informed trading decisions based on RSI signals.

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This MACD Magic indicator coded due to inspired in a another similar indicator ,Here Macd Magic calculate Double trend confirmation. With ATR Ratio Based TP point , ATR value input are available in input settings . MACD Magic indicator provides Accurate signals on all Major currency pair and stocks. This indicator Very easy to analysis trend and set target point

30 USD

The Average True Range (ATR) is a tool to measure volatility. ATR MTF (Multi Time Frame) indicator provides all timeframe trends helps to identify in which kind of volatility environment the market .This indicator can be used with any Trading Systems for additional confirmation of trading entries or exits. It is a very helpful tool to calculate Targets and Stops according the current market conditions.

35 USD

Half Trend TPSL Buy Sell Indicator calculates the open and close of the price bars over the selected period of time and applies its own calculation method to find an average line of the price movement. ATR based Take Profit and Stop Loss ATR is a measure of volatility over a specified period of time. The most common length is 14, which is also a common length for oscillators, such as the relative strength index (RSI) and stochastics. A higher ATR indicates a more volatile market, while a lowe

40 USD

The Super Trend is one of the best trend-following indicator for MT5 platforms. It's working fine for real-time trend alerts and accurate signals and it help to identify the best market entry and exit positions. This indicator is the tool you can refers to a trend following overlays. It contains two major parameters: the period and the multiplier. Besides, traders should consider default values that include 10 for every true range aтd 3 for the multiplier. 2 Types TP SL you set in input Point

50 USD

A HalfTrend scanner for MT5 (MetaTrader 5) is a technical analysis tool designed to help traders identify trend reversals and trade opportunities in the market. The HalfTrend indicator itself is based on price movements and a specific algorithm that identifies changes in market direction. Here’s a detailed description of an MT5 HalfTrend scanner: Overview The MT5 HalfTrend scanner is an advanced tool that scans multiple currency pairs or financial instruments for potential trend reversal signals

80 USD

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Version 3.0 2024.07.12

Number of candles to check for signals

Version 2.0 2024.07.12

RSI Levels input Updated