RSI with Alert for MT4 and MT5

RSI Alert indicator is a free MT4/MT5 indicator that you can download here and use in your MetaTrader to receive notifications via email, mobile app, and in the platform when RSI enters an overbought or oversold area or when it returns to a normal area.

What is RSI indicator?

Relative strength index (RSI) indicator is a popular technical indicator in the family of oscillators.

RSI oscillates between 0 and 100 and traders use it to spot overbought and oversold states in the market.

You can see this indicator as a line moving between the 0 and 100 levels.

Typically, a value above 70 means that the instrument is overbought and due to a retracement. A value below 30 means that the trading instrument is oversold.

RSI indicator strategies

Traders use RSI indicator for some popular chart analysis and strategies:

• Exit a trade when an indicator has reached an overbought or oversold area.
• Enter a trade when a pair, or other instrument, comes back from an Overbought or Oversold area
• Detect bullish and bearish divergences.

MetaTrader RSI Alert indicator

The MetaTrader 4 and 5 platforms includes RSI among their built-in indicators, however, it comes without any notification feature for overbought and oversold areas.

In many cases, it is useful get a notification when RSI goes into an overbought or oversold area or when it goes back into a normal area, because such situations could present trading opportunities.

You can benefit from such alerts especially with trend reversal strategies.

To compensate for the lack of this feature, you can download RSI Alert indicator for MetaTrader.

This indicator allows you to get notifications when some conditions trigger. You can receive notifications via:

• Email
• Mobile app
• On screen

Another interesting feature of MetaTrader RSI Alert indicator is that it can draw buy and sell signals in the form of arrows when a signal occurs.

You can also create your own horizontal lines inside the indicator's window to get alerts when the RSI indicator crosses those lines:

With MetaTrader RSI Alert indicator, you can do the following:

• Set your preferred thresholds for overbought and oversold areas.
• Get notified when RSI is overbought or oversold.
• Get notified when RSI comes back from overbought or oversold ares.

The indicator is completely free to download and use.

RSI Alert indicator source code

If you are interested in alert indicators, you can use the source code of the present RSI Alert Indicator for your further development. Additionally, you can inspect the code of our Alert Indicator Template, which was used as a foundation for this indicator.

How to download and use MT4 RSI Alert indicator?

You can download the indicator for free using the link below and install it by following the provided instructions.

The installation is very easy to perform. The same is true for using this tool.

Once you run the indicator you can set the parameters. You can select RSI alert conditions to use and how to receive notifications.

MT4 RSI Alert installation

To install MT4 RSI Alert Indicator, please follow the instructions below:

1. Download the indicator archive file.
2. Open the MetaTrader 4 data folder (via File→Open Data Folder).
3. Open the MQL4 Folder.
4. Copy all the folders from the archive directly to the MQL4 folder.
5. Restart MetaTrader 4 or refresh the indicators list by right-clicking the Navigator subwindow of the platform and choosing Refresh.

For more detailed instructions on how to perform the installation please visit this article.

MT5 RSI Alert indicator

What is MT5 RSI Alert indicator?

RSI Alert Indicator for MetaTrader 5 is a plugin that allows you to set up alerts for RSI crossing overbought/oversold boundaries on your MT5 chart. It has exactly the same features as the version of the indicator for MT4.

How to download and use MT5 RSI Alert indicator?

You can download the indicator for free using the link below and install it by following the provided instructions.

MT5 RSI Alert installation

To install the MT5 RSI Alert Indicator please follow the instructions below:

1. Download the indicator archive file.
2. Open the MetaTrader 5 data folder (via File→Open Data Folder).
3. Open the MQL5 Folder.
4. Copy all the folders from the archive directly to the MQL5 folder.
5. Restart MetaTrader 5 or refresh the indicators list by right-clicking the Navigator subwindow of the platform and choosing Refresh.

For detailed instructions on how to setup the alerts in MetaTrader please refer to our guide on notifications in MT4/MT5..

Discussion

Do you have any suggestions or questions regarding this indicator? You can always discuss RSI with Alert with the other traders and MQL programmers on the indicators forums.

Changelog

1.06 — 2024-08-12

• Added a new signal type — RSI returning to the range after hitting a target.
• Added an option to set the Number of Candles to Analyze to zero to process the entire chart.
• Added back the time limit on alerts when working with the current candle.

1.05 — 2023-05-26

• Added a capability to detect arbitrary horizontal line cross alerts.
• Removed some unnecessary recalculations.
• Optimized signal arrow drawing to remove chart blinking.
• Fixed potential array out range errors for charts with few candles.
• Fixed deletion of signal arrows when the alert trigger candle was set to Previous.