Best RSI Settings for 15-Minute Chart

Choosing the Best RSI Settings for a 15-Minute Chart

The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements, ranging from 0 to 100. On a 15-minute chart, used for short-term trading like scalping or day trading, the right RSI settings can help identify overbought/oversold conditions and potential reversals. Let’s explore the best options.

Key Concepts

• Period: The lookback period (e.g., 14) determines how many bars are used to calculate RSI.
• Overbought/Oversold: Traditionally, RSI > 70 indicates overbought, and RSI < 30 indicates oversold.
• Timeframe Sensitivity: Shorter timeframes like 15 minutes require settings that balance noise and responsiveness.

Recommended RSI Setting: 14 Period

For a 15-minute chart, the 14-period RSI is the most commonly recommended setting. Here’s why:

• Standard Default: Developed by J. Welles Wilder, the 14-period RSI is the industry standard, widely watched by traders.
• Balance: It smooths price fluctuations on a 15-minute chart while remaining responsive to short-term momentum shifts.
• Reliability: Works well for identifying overbought/oversold levels and divergences in forex, stocks, and other markets.

Alternatives

Depending on your trading style, you might adjust the RSI period:

• 9 RSI: Faster, better for scalping or highly volatile markets, but more prone to noise.
• 21 RSI: Slower, reduces false signals, ideal for trend confirmation on a 15-minute chart.
• 7 RSI: Ultra-responsive, suited for aggressive scalpers, though it increases whipsaws.

Using RSI in MQL4

In MetaTrader 4, you can apply the 14 RSI using the built-in indicator or code it with MQL4:

// Example: Calculate 14 RSI in MQL4
double Get14RSI(int shift)
{
   return iRSI(NULL, PERIOD_M15, 14, PRICE_CLOSE, shift);
}

void OnStart()
{
   double rsiValue = Get14RSI(0);
   Print("14 RSI on current 15-min bar: ", rsiValue);
}
            

Trading Tips

• Use RSI with support/resistance levels for stronger signals.
• Look for divergences (e.g., price makes a higher high, but RSI doesn’t) to spot reversals.
• Adjust overbought/oversold levels (e.g., 80/20) in trending markets to avoid premature exits.

Try It Yourself

Add the 14 RSI to a 15-minute chart in MetaTrader 4 and monitor its behavior during trending and ranging conditions.