Best RSI Setting for H4 Gold Chart
Adding MT4 RSI Indicator
Step 1: Open MT4 Software Navigator Window Panel
Open MetaTrader 4 Navigator window panel as shown below - Go to "View" menu (then click it) & then select "Navigator" window panel (click), or From the Standard Tool bar click the "Navigator" button key or use keyboard shortcut keys "Ctrl +N"
On MetaTrader 4 Navigator window, choose "Technical Indicators", (DoubleClick)
Best RSI Setting for 1 Hour XAUUSD Chart - Best RSI Settings for 4 H Gold Chart
Adding RSI MT4 Indicator
Expand the menu by clicking the expand button marker (+) or double click the "indicators" menu, after this the button will appear as (-) and will now display a list as shown below - select the RSI indicator from this list of MetaTrader 4 indicators so as to add the RSI indicator on the chart.
Best RSI Setting for 1 Hour XAUUSD Chart - Best RSI Settings for 4 H Gold Chart
How to Add Custom RSI Indicators to MT4
If the gold RSI technical indicator you want to add is a custom MT4 indicator - for example if the RSI technical indicator you want to add is a custom RSI indicator you will need to first add this custom RSI indicator in MetaTrader 4 platform & then compile custom RSI indicator so that the newly added RSI custom indicator pops up on the list of custom indicators in MetaTrader 4 software.
To learn how to setup RSI indicators on MT4, how to add RSI indicator window to MT4 platform and how to add RSI custom MT4 indicator on MT4 - How to add a custom RSI indicator in MetaTrader 4.
Gold Trading RSI Technical Indicator
Relative Strength Index XAUUSD Technical Analysis and RSI Signals
RSI is one of the most popular indicator & it is a momentum oscillator and a price trend following indicator. RSI indicator compares a trading price movement magnitude of the recent price gains against its magnitude of recent losses price losses & plots this data on a scale of values which ranges between 0-100.
RSI indicator measures the momentum of price: indicator values above RSI 50 center line level signify bullish momentum while values below RSI 50 center line level signify bearish momentum.
Best RSI Setting for 1 Hour XAUUSD Chart - Best RSI Settings for 4 H Gold Chart
- RSI is drawn as a green-line
- Horizontal dashed lines are plotted to spotting overbought and oversold levels are - RSI 70 and RSI 30 levels respectively.
RSI Gold Technical Analysis & Generating XAUUSD RSI Trading Signals
There are several strategies used to trade RSI, these are:
50 center line Crossover Signals
- Buy Gold Signal - when the RSI indicator crosses above 50 a buy signal is given.
- Sell Gold Signal - when the RSI indicator crosses below 50 a sell signal is given.
Best RSI Setting for Gold Swing Trading - Best RSI Settings for XAUUSD Best RSI Settings for Scalping Gold Trading
RSI Indicator Patterns
Traders can draw trend lines and identify chart patterns on the RSI indicator. The RSI often forms xauusd patterns such as head and shoulders chart pattern which might not have formed clearly on the price chart - but forms on the RSI technical indicator.
Trading Support & Resistance XAUUSD Price Breakouts
RSI indicator is a leading indicator & can be used to predict Support and Resistance Breakouts before price breaks its support and resistance level. RSI indicator uses the swing failure gold signal to predict when the price is about to break support and resistance areas.
Best RSI Setting for Gold Swing Trading - Best RSI Settings for XAUUSD Best RSI Settings for Scalping Gold Trading
Overbought and Oversold Levels on Indicator
- Overbought - RSI levels above 80
- Oversold - RSI levels below 20
These Overbought and Oversold levels can be used to generate signals such as when RSI turns up from below 20 after oversold is a buy signal - and sell signal is when RSI crosses to below 80 after overbought - RSI sell signal.
Divergence RSI Trading Setups
Divergence gold trading is one of the technical analysis strategies used to trade price trend reversals of the price trends. There are four types of RSI divergences that can be traded with this RSI indicator explained in the gold divergence tutorial on this learn gold web site.
Best RSI Setting for 1 Hour XAUUSD Chart - Best RSI Setting for 4 Hour Gold Chart - Best RSI Settings for XAUUSD Day Trading - Best RSI Setting for Gold Swing Trading - Best RSI Settings for XAUUSD Best RSI Settings for Scalping Gold Trading
