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RSI Trend Line Alert Indicator
The RSI Signal Trend Catcher is a simple mt4 indicator that works just like the traditional RSI. The RSI Trend Catcher plots a line that is similar to RSI but with some alterations.
The indicator will tell you where the overbought and oversold zones are and present buying and selling options. It also identifies trends and catches bullish and bearish divergences better than traditional RSI.
The RSI Trend Catcher is made up of three different colors: red, green, and yellow. Each color has a unique property. The yellow color indicates a trading range, while the green color represents a trend.
How to trade RSI Trend Catcher Signal?
RSI Trend Line Alert Indicator
This indicator uses red or green lines as mentioned above to indicate the direction of a trend. You must remember the RSI settings to apply the indicator.
If the RSI falls below 30, then it’s in an oversold zone and offers a great opportunity to buy. When the RSI is over 70, the RSI is in an overbought area and presents a good sell opportunity.
When the indicator is red, it means that the RSI has fallen below 30 points and you should take short positions. If the indicator is green, then it’s a good buy and the RSI level is higher than 70.
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