The Relative Strength Index (RSI) was developed by Wells Wilder to measure the speed and change of price movements of an instrument. RSI oscillates between zero and 100. It is most commonly used to indicate temporary overbought or oversold conditions in a market. Wilder considered RSI values over 70 overbought and values below 30 oversold, but these values can be adjusted to suit particular needs and markets. For instance, 80 could be used as overbought line in a strong uptrend and 20 as oversold line in a strong downtrend.

Period used is 7. If you wish to customise the period, kindly check out the Easy Alerts+ app.

Easy Alerts+

https://play.google.com/store/apps/details?id=com.easy.alerts

EasyRSI provides a comprehensive dashboard that allows you to view the RSI value of multiple instruments across 6 timeframes (M5, M15, M30, H1, H4, D1) at one glance. This provides you with an understanding of the current oversold/overbought conditions of the forex market on the go.

Key Features

☆ Timely display of RSI values of over 60 instruments across 6 timeframes,

☆ Allows configuration of oversold/overbought condition that best suit your personal trading strategy,

☆ Timely push notification alert when oversold or overbought condition is hit

****************

Easy Indicators relies on your support to fund its development and server costs. If you like our apps and wish to support us, kindly consider subscribing to Easy RSI Premium. This subscription removes all advertisements within the app, receive push alert based on your preferred overbought/oversold values, display M5 timeframe (available only for Deluxe subscribers) and supports our development of future enhancements.

****************

Privacy Policy:

http://easyindicators.com/privacy.html

Terms of Use:

http://easyindicators.com/terms.html

To learn more about us and our products,

please visit

http://www.easyindicators.com .

All feedback and suggestions are welcome. You can reach us via email ([email protected]) or the contact feature within the app.

Join our facebook fan page.

http://www.facebook.com/easyindicators

Follow us on Twitter (@EasyIndicators)

*** IMPORTANT NOTE ***

Please note that updates are not available during weekend.

Disclaimer/Disclosure

Forex trading on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade forex, you should carefully consider your investment objectives, level of experience, and risk appetite. You must be aware of the risks of investing in forex and be willing to accept them in order to trade in these markets. Trading involves substantial risk of loss and is not suitable for all investors.

EasyIndicators has taken great measures to ensure the accuracy and timeliness of the information in the application, however, does not guarantee its accuracy and timeliness, and will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information, inability to access the information, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this application.

The Application Provider (EasyIndicators) reserves the rights to stop the service without any advance notification.

Introduction

Easy RSI (7) is a popular technical analysis indicator used by traders to identify potential trend reversals in financial markets. It is a momentum indicator that measures the strength and speed of a trend by comparing the average gain of a security over a specific period to its average loss over the same period.

Calculation

Easy RSI (7) is calculated using the following formula:

```

Easy RSI (7) = 100 - (100 / (1 + Average Gain / Average Loss))

```

where:

* Average Gain is the average of the positive price changes over a specific period (typically 7 days)

* Average Loss is the average of the absolute values of the negative price changes over the same period

Interpretation

Easy RSI (7) values range from 0 to 100. Generally, values above 70 indicate that the security is overbought and may be due for a correction. Values below 30 indicate that the security is oversold and may be due for a rally.

Traders typically use Easy RSI (7) in the following ways:

* Identify overbought and oversold conditions: When Easy RSI (7) is above 70, it suggests that the security is overbought and may be due for a correction. When it is below 30, it suggests that the security is oversold and may be due for a rally.

* Confirm trend reversals: When Easy RSI (7) crosses above 30 from below, it can signal a potential bullish trend reversal. Conversely, when it crosses below 70 from above, it can signal a potential bearish trend reversal.

* Filter trades: Traders may use Easy RSI (7) as a filter to confirm trades in the direction of the prevailing trend. For example, a trader may only buy a security when Easy RSI (7) is above 30 and sell a security when it is below 70.

Advantages

* Easy to calculate and interpret

* Can be used to identify potential trend reversals

* Can be used as a filter to confirm trades

Disadvantages

* Can be lagging, especially in fast-moving markets

* Can generate false signals, especially in choppy markets

* Not suitable for all trading strategies

Conclusion

Easy RSI (7) is a versatile technical analysis indicator that can be used to identify potential trend reversals in financial markets. It is easy to calculate and interpret, but it can be lagging and generate false signals in certain market conditions. Traders should use Easy RSI (7) in conjunction with other technical analysis tools and consider their own trading strategy when making trading decisions.