KT RSI Alerts is a personal implementation of the Relative Strength Index (RSI) oscillator that provide signals and alerts on four custom events:
- When RSI enter in an overbought zone.
- When RSI exit from an overbought zone.
- When RSI enter in an oversold zone.
- When RSI exit from an oversold zone.
Features
- A perfect choice for traders who speculate the RSI movements within an overbought/oversold zone.
- It's a lightly coded indicator without using extensive memory and resources.
- It implements all Metatrader alerts.
History of Relative Strength Index (RSI)
The RSI was developed by J. Welles Wilder and published in a 1978 book, New Concepts in Technical Trading Systems, and in Commodities magazine in the June 1978 issue. The RSI is classified as a momentum oscillator, measuring the velocity and magnitude of directional price movements. The RSI computes momentum as the ratio of higher closes to lower closes.
