RSImaxmin free demo
The indicator effectively identifies the maximum and minimum peaks in the Relative Strength Index (RSI) oscillator; You can use them to compare and detect divergences, overbought and oversold that can be used to make a possible purchase or sale thanks to the configurable alerts included in the parameters. Additionally, it calculates and indicates support and resistance levels in the oscillator that show when the price can have a possible trend change by statistics based on moving average. By combining both signals, an effective buying and selling strategy can be created.
RSImaxmin Indicator Features
- The RSImaxmin indicator simplifies the parameters to the maximum, therefore, it is ideal for trading currencies, cryptocurrencies and binary options.
- It can be used in strategies based solely on this indicator or it can be combined with other indicators.
- You can set the color of the trend lines of the indicator.
- Algorithm optimized and tested to ensure that it is always in service.
- The indicator allows to generate alerts in different configurations (mobile application - Push, email, desktop application) when a divergence is detected.
- Alerts can be repeated for the same event to guarantee or to recognize the RSImaxmin indicator.
RSImaxmin Indicator Parameters
- RSI Period.- is the period of candles used to calculate the value of the RSI oscillator.
- Price and RSI calculation Kind.- the algorithm can use all forms of price calculation including HL/2, HLC/3 and HLCC/4.
- Tolerance to take as a max.- is the value used as a condition to accept a maximum peak.
- Tolerance to take as a min.- is the value used as a condition to accept a minimum peak.
- Alert Settings.- This parameter allows you to choose the alerts you wish to receive regarding the indicator.
- Alert Kind.- are the options that the program allows to notify you of an event (mobile application, email, desktop application).
- Alert repetition per event.- are the times you can repeat an alert for the same event (1, 3, 5, and 10)
Recommendations for the efficient use of the RSImaxmin Indicator
- The parameters must be adjusted according to the target market, that is, it should be noted that in the historical data of the oscillator they validate the strategy implemented.
- The default parameters are optimized to work with larger currency pairs in a period exceeding 15min.
- Do not use tolerances below 50 for maximum peaks or tolerances above 50 for minimum peaks. (in PRO version)
- None indicator guarantees market movement in its favor, for this reason I always recommend operating cautiously, in favor of the trend, and with proper risk management.