After that, a search for oVirt in the Setup menu should find the ruleset for setting up the oVirt datasource. Create a rule and assign it to the oVirt/RHEV host(s).
Edit: I cannot test it by myself as I have replaced all my oVirt clusters by Proxmox VE.
@nhakeem the way to retrieve monitoring data from an API is called a ‘special agent’ in Checkmk lingo.
If there is no special agent available from us (there is not, afaik) or the Checkmk Exchange (couldn’t find any, either), you can always have a crack a building your own.
If the RHEV API is well documented, this should be doable.