Setting up the Relative Strength Index (RSI) in MetaTrader 4

This guide shows you how to set up the RSI in MetaTrader 4.

After reading this tutorial, you should be able to:

Add the RSI and set the parameters of this indicator
Change the parameters
Remove the RSI




Add the RSI and set the parameters of this indicator

Click Insert and move your mouse over Indicators and Oscillators
Click Relative Strength Index


Setting the common parameters
After you have completed the step above, the settings menu appears.



Most indicators can be controlled by several common parameters.

There are two types of parameters:

Calculations of the indicator: e.g. the amount of periods used for the RSI (you do not need to worry too much about this in the beginning)
Visuals of an indicator: e.g. how it will look, the colour and thickness of the lines, etc.


Changing parameters at a later time
To change the settings of the indicator directly on the chart at a later date:

Right-click the RSI (you will have to be exact on the line of the indicator to get the menu seen below)
Choose RSI(14) Properties – The (14) is the respective parameter (Periods) and can differ, depending on your choice when setting the parameters


The parameter menu appears again where you can change the indicator.



Deleting an indicator
To delete the RSI:

Right-click the indicator that you want to delete (you will have to be exact on the line of the indicator to get the menu shown below)
Click Delete Indicator


The RSI disappears from your chart.

Updated on: 16/07/2020