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RSI Candle Signal

RSI Candle Signal Indicator will change bars’ color when set overbought or oversold levels reach.

How to Use RSI Candle Signal

  • Uptrend/Downtrends - RSI may be used to detect trending markets. For example, the RSI may stay above the mid line 50 in an uptrend.
  • Top and Buttoms - RSI may help in identifying the tops around the overbought readings (usually above 70), and the bottoms around the oversold area (usually below 30).
  • Divergence - divergence occurs when RSI directional movement is not confirmed by the price action. For example, a bullish divergence occurs when EURUSD makes lower  low but RSI makes higher low. This means that EURUSD is losing momentum and a bullish correction is possible.

Paramètres ( The setting of the parameters is possible.)

Original Setting :

  • RSI Period - 14.
  • Overbought - 70.
  • Oversold - 30.

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