Official "The Invest Bay" webpage: https://theinvestbay.com Recommended forex broker: https://theinvestbay.com/bestbroker Indicator, description and examples are available here: https://www.mql5.com/en/market/product/13223 RSI Dashboard is a great tool for quickest possible analysis of multiple currency pairs in terms of oversold or overbought at the same time. This analyzer is perfect for alerts in MT4 terminal (parameter "Alerts"), for notifications through MT4 terminal to smartphone or tablet (through MetaQuotes ID) with installed MT4 (parameter "Notifications") and also mail alerts (parameters "Emails"). Works immediately from every machine, e.g. from remote VPS (what I personally use). RSI Dashboard, except that it offers us the ability to set three methods of notifications, also allows you to select timeframes from which we receive the notifications ("TF_M5", "TF_M15", "TF_M30", "TF_H1", "TF_H4" and "TF_D1") and combinations of timeframes with coincident conditions : M5 + M15 + M30 ("Lower_3_TFs"), H1 + H4 + D1 ("Higher_3_TFs") and M5 + M15 + M30 + H1 + H4 + D1 ("ALL_TFs"). Another parameter is, of course, period of RSI ("RSI_Period") and level ("RSI_Level"), below and above which we will get notifications. For example, if you set RSI_Period=7 and RSI_Level=20 you will receive a notification when the RSI indicator (for period 7) for a given currency pair and chosen timeframe will be below 20 (oversold) or above 80 (overbought), so upper RSI level is always 100-RSI_Level. Displayed values are rounded to the nearest integer, e.g. when appears "0" it does not mean that RSI reaches exactly value 0 only that it is approximation to the nearest integer number which is 0, but value could be 0.001 or other. Green color of value means that value is below lower RSI level (suggestion to buy), red means that value is above higher RSI level and gray color when value is maximal 5 percent points above lower RSI level or below higher RSI level. The dashboard also gives us the ability to set maximum spread at which the notifications will come ("Alerts_Max_Spread"). Also spread values have different colors and it depends on whether the value is higher or lower than set in parameter "Alerts_Max_Spread". When value is lower or equal to maximal spread the color is green, when value is between 1 and 1.5 times higher than parameter the color is orange and above 1.5 times higher - red. I suggest you to make in new chart window new template with only "RSI Dashboard" indicator with color scheme without colours ("None"), only Background ("White") and Foreground ("White") and save that template. If you don't know how to do it I can send you ready template and tell you where to put it. RSI Dashboard is very helpful in recognition oversold and overbought terms of currency pairs which often lead to changes of trend or retracements. Remember to be always careful when important political and macro-economic messages are published, when price oscillates around important support and resistance levels, pivots or round numbers and obviously always pay special attention to price action. Remember, no one except yourself is responsible for any investment decision made by you. You are responsible for your own investment research and investment decisions. Good luck!
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