The RSI Multi Length indicator in MT5 is a modified version of the classic Relative Strength Index (RSI). Instead of relying on a single length, it analyzes multiple RSI values at once, making it more adaptable to changing market conditions. The tool highlights overbought and oversold zones with clear red and green levels, helping traders identify potential entry and exit points.
⚡ Specifications
When the RSI curve crosses above the red level, the indicator signals overbought conditions by showing red dots. If the RSI dips below the green level, green dots appear, marking oversold areas. These signals allow traders to quickly recognize reversal points.
By combining multiple RSI lengths, this indicator offers more reliable signals than the traditional RSI. Its clear visual cues—red and green levels with confirmation dots—make it easier to spot reversals and improve timing for trades across different markets.
⚡ Specifications
- Category: Oscillator, Signal & Forecast, RSI
- ️ Platform: MetaTrader 5
- Skill Level: Intermediate
- Type: Overbought/Oversold, Reversal
- Timeframe: Multi-Timeframe
- Style: Scalping, Day Trading, Swing Trading
- Markets: Forex, Crypto, Stocks
- Download: https://cdn.tradingfinder.com/file/480293/rsi-multi-length-indicator-mt5-by-tflab.zip
Trading Logic
When the RSI curve crosses above the red level, the indicator signals overbought conditions by showing red dots. If the RSI dips below the green level, green dots appear, marking oversold areas. These signals allow traders to quickly recognize reversal points.
- Buy Example: On GBP/USD, the RSI dropping under the green level triggers green dots, signaling oversold conditions and potential buying opportunities.
- Sell Example: On EUR/USD, the RSI moving into the red zone highlights overbought conditions, with red dots suggesting possible selling setups.
Settings
- Maximum Length: Longer RSI period for smoother signals
- Minimum Length: Shorter RSI period for faster responses
- Overbought / Oversold Levels: Customizable thresholds
- Applied Price: Choice of input price for RSI calculation
Conclusion
By combining multiple RSI lengths, this indicator offers more reliable signals than the traditional RSI. Its clear visual cues—red and green levels with confirmation dots—make it easier to spot reversals and improve timing for trades across different markets.