What are the differences between the oscillators?
- RSI – “Relative Strength Index”
- This shows the price strength by comparing upward and downward close-to-close movements. RSI will grade the price movement exhibited between candles for the last N periods.
- MACD – “Moving average Convergence/Divergence”
- A trend-following momentum indicator that shows the relationship between two moving averages of prices. It can demonstrate market momentum.
- This shows the location of the current close relative to the high/low range over a set number of periods. Stochastics can help determine when a currency pair is overbought or oversold.
- CCI – “Commodity Channel Index”
- This measures the position of price in relation to its moving average. It can show if a currency pair may be overbought or oversold.
How to add indicators in Trading Station or MetaTrader 4.