Add RSI to chart

PC Add RSI to chart

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On MetaTrader4 (MT4) / MetaTrader5 (MT5), you can display the Relative Strength Index (RSI), a technical indicator developed by J.W. Wilder (USA). It measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price.

Here we will look at how to add RSI to a chart on MT4/MT5.

Switch between MT4/MT5 tabs to check the steps for each.

Step 1

RSI can be set up from the menu or the Navigator.

Add RSI from the menu

Click "Insert" in the menu. Hover the pointer over "Indicators" > "Oscillators" and select "Relative Strength Index".

Add RSI from the Navigator

On the Navigator, click on the "+" signs next to "Indicators" and then "Oscillators". Select "Relative Strength Index" and drag it onto the chart you wish to apply it to.

Or, right-click on "Relative Strength Index" and select "Attach to a chart".

Step 2

The setting window for RSI will appear. Set the parameters in the "Parameters", "Levels", and "Visualization" tabs and click "OK".

"Parameters" tab

Number	Item name	Descriptions
1	Period	Set the period for the RSI. The unit here is the number of candlesticks. If you select the daily chart and set it to "14", the RSI for the past 14 days will be generated.
2	Apply to	Price to use for calculating RSI. Close: close price Open: open price High: high price Low: low price Median Price (HL/2): (high price + low price) ÷2 Typical Price (HLC/3): (high price + low price + close price) ÷3 Weighted Close (HLCC/4): (high price + low price + close price×2) ÷4 Previous Indicator's Data: the price data applied to the previous indicator First Indicator's Data: the price data applied to the first indicator
3	Style	Set the color, line type, and line thickness for RSI.
4	Fixed minimum	Set the minimum value for the sub-window to display RSI.
5	Fixed maximum	Set the maximum value for the sub-window to display RSI.

"Levels" tab

In the RSI sub-window, the vertical axis shows the percentage and you can display horizontal lines on top of it. They are set to 30% and 70% by default. If you wish to change them, double-click the numbers and enter the number of your choice. If you want to add another horizontal line, click "Add" and enter the number. RSI fluctuates from 0~100% so pick a number from 0~100.

"Visualization" tab

In the "Visualization" tab, you can set the timeframes to display RSI. As RSI can only be displayed in the sub-window, it will be displayed in the sub-window even if "Show in the Data Window" is unchecked.

Step 3

RSI will be displayed on the sub-window of the chart.

Step 1

RSI can be set up from the menu or the Navigator.

Add RSI from the menu

Click "Insert" in the menu. Hover the pointer over "Indicators" > "Oscillators" and select "Relative Strength Index".

Add RSI from the Navigator

On the Navigator, go to "Indicators" and click on the "+" sign next to "Oscillators". Select "Relative Strength Index" and drag it onto the chart you wish to apply it to.

Select Relative Strength Index and drag it onto the chart you wish to apply it to

Or, right-click on "Relative Strength Index" and select "Attach to Chart".

Step 2

The setting window for RSI will appear. Set the parameters in the "Parameters", "Levels", "Scale", and "Visualization" tab and click "OK".

"Parameters" tab

Number	Item name	Descriptions
1	Period	Set the period for the RSI. The unit here is the number of candlesticks. If you select the daily chart and set it to "14", the RSI for the past 14 days will be generated.
2	Apply to	Price to use for calculating RSI. Close: close price Open: open price High: high price Low: low price Median Price (HL/2): (high price + low price) ÷2 Typical Price (HLC/3): (high price + low price + close price) ÷3 Weighted Close (HLCC/4): (high price + low price + close price×2) ÷4 Previous indicator's data: the price data applied to the previous indicator First indicator's data: the price data applied to the first indicator
3	Style	Set the color, line type, and line thickness for RSI.

"Levels" tab

"Scale" tab

Set the scale of the sub-window for RSI.

Number	Item name	Descriptions
1	Inherit scale	Check this box if you want to inherit the scale of the previous indicator when displaying multiple indicators on the same sub-window.
2	Scale by line	Specify where you want the RSI to show up on the sub-window. If you set the scale percentage to "50" and the scale value to "0", the scale of the vertical axis will be adjusted so that the scale value of "0" will be set at the 50% mark (max value is 100%).
3	Fixed minimum/maximum	Set the min/max value for the sub-window to display RSI.

"Visualization" tab

In the "Visualization" tab, you can set the timeframes to display RSI. As RSI can only be displayed in the sub-window, it will be displayed in sub-window even if "Show in Data Window" is unchecked.