I use Pivot point indicator which automatically draws a line on my mt4 chart with RSI indicator to determine overbought and oversold areas, however I always take a trading decision based on Price Action around the Pivot points because candlestick patterns behavior at those zone is also an indicator, an exhaustion candle with a bullish or bearish wicks are factors I considered for a possible price reversal at the either side mostly using a higher timeframe from 4 hour time frame and above, though I haven't perfected my trading strategy yet because this comes with huge period of charting time.