The RSX Over indicator is a useful and popular free Forex indicator for the MT4 trading platform. This indicator is used to identify overbought and oversold conditions in the market. It works by plotting two lines (RSX and Over) on the chart. The RSX line is drawn from the highest high of the past n bars and the Over line is drawn from the lowest low of the past n bars. When the RSX line is above the Over line, it indicates an overbought market. When the RSX line is below the Over line, it indicates an oversold market. The indicator also has a histogram which indicates the strength of the overbought or oversold condition. The histogram is calculated by subtracting the RSX line from the Over line. The RSX Over indicator is a great tool for traders who want to identify overbought and oversold conditions in the market. It is easy to use and can be applied to any time frame. Traders can use this indicator to identify potential entry and exit points, and to help determine the trend direction. It can also be used to identify potential support and resistance levels. The indicator is free and can be downloaded from the MT4 trading platform.
MT4
RSX Over
The RSX Over Indicator is a powerful and useful tool for Forex traders. It is designed to help traders identify overbought and oversold conditions in the market. The indicator is based on the Relative Strength Index (RSI) and uses a combination of two different periods to identify these conditions. By using the RSX Over Indicator, traders can quickly identify when to enter and exit the market to maximize their profits.
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.
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