RSI Extreme Zone Indicator Download for MT5 - Free | Forex Indicator Download - MetaTrader 5 Resource

The RSI Extreme Zone (RSI EZ) is an advanced MetaTrader5 oscillator derived from the classic RSI designed for the MetaTrader 5 (MT5) platform. The RSI EZ indicator helps traders identify overbought (70) and oversold (30) levels.

When price moves out of these areas, the indicator provides buy and sell signals, notifying traders of potential trend reversals at these key points.

RSI Indicator Table

Indicators at a glance

The RSI Extreme Zones (RSI EZ) Indicator is a useful tool for traders seeking to identify overbought and oversold zones in the RSI oscillator .

This MetaTrader5 indicator changes color when entering the maximum saturation zone, alerting traders to these key price areas and simplifying the analysis of market conditions for more precise decision-making .

Oversold Zone

In the 15-minute GBP/USD chart, the RSI Extreme Zone (RSI EZ) indicator helps traders closely monitor the RSI oscillator. When the price enters the oversold zone (below 30) , the oscillator turns blue , alerting traders to the situation. When the price moves back above the 30 level the RSI EZ indicator indicates that the price has exited the oversold zone.

Overbought Zone

In the 30-minute NZD/CAD chart, the RSI EZ indicator helps traders track the position of the RSI oscillator. When the price reaches the overbought zone (above 70) , the oscillator turns red , marking the entry into the overbought zone. When price exits this zone, the RSI EZ indicator displays a signal alerting traders to a potential reversal.

RSI indicator settings

• RSI Period: Set the RSI period to 14
• RSI Up Level: Set the overbought level to 70
• RSI Down Level: Set the oversold level to 30
• Up Arrow Code: Select signal arrow shape (233)
• Down Arrow Code: Select signal arrow shape (234)
• Arrow Distance: Set the distance of the signal arrow (10)
• Alert On: Enable or turn off signal alerts (default: false)

Summary

The RSI Extreme Zone (RSI EZ) is a practical and efficient oscillator for traders who use the RSI to identify overbought and oversold zones. Through visual displays of these areas and the signals provided when price exits these areas, Trading Tools effectively informs traders of important market changes, helping them make better trading decisions.