Introduction to the RSI Peak Valley Levels Indicator
The RSI Peak Valley Levels Indicator is a custom forex trading tool that marks all tops and bottoms of the Relative Strenght Index (RSI) indicator. You can use these marks for your forex trades entry points when the RSI is in the oversold or overbought zone.
The RSI Peak Valley Levels Indicator fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the RSI Peak Valley Levels indicator in MetaTrader (MT4)?
Download the RSI Peak Valley Levels.rar archive at the bottom of this post, unpack it, then copy and paste the RSI Peak Valley Levels.ex4 or RSI Peak Valley Levels.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The RSI Peak Valley Levels indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT4 RSI Peak Valley Levels Indicator
To download the RSI Peak Valley Levels Indicator for Metatrader 4 (MT4) for free just click the button below: