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【MT4/MT5】RSI Buy Sell Signal Indicator
【MT4/MT5】RSI Buy Sell Signal Indicator
- Overview
- How to install
- How to set up
Display:
The RSI Buy Sell Signal Indicator detects RSI reversals and 50-line crosses, displaying buy/sell arrows in the RSI subwindow below the chart. You can review the signal locations together with RSI movements to support entry decisions and market analysis in manual trading.
Features: RSI signal / line touch notifications
Identify RSI touches and reversals with buy and sell signals
The indicator can display a buy signal when the RSI rises back above the oversold level after falling below it, and a sell signal when the RSI drops back below the overbought level after exceeding it. Instead of reacting to simple touches of the 30/70 levels, it detects reversal moves from these levels to highlight potential turning points.
Identify trend reversals with 50-level crossovers
The indicator can use the RSI 50 level to identify trend direction. A buy signal is generated when the RSI crosses above the 50 level, while a sell signal is generated when it crosses below. It also supports a mode that combines 30/70 reversal signals with 50-level crossover signals, distinguished by different arrow colors.
Three signal modes to choose from
The RSI Buy Sell Signal Indicator offers three signal modes. RSI_Reversal detects reversals from the 30/70 levels, RSI_Middle_Cross detects crossovers of the 50 level, and RSI_Reversal_And_Middle_Cross displays both signal types simultaneously.
Number |
Signal |
Description |
|---|---|---|
1 |
Reversal signal |
When the RSI crosses above the 30 level, a buy signal is displayed with an arrow; when it crosses below 70, a sell signal is displayed. These signals are displayed when "RSI_Reversal" or "RSI_Reversal_And_Middle_Cross" are selected as the Signal Modes. |
2 |
Middle cross signal |
When the RSI crosses above the 50 level, a buy signal is displayed with an arrow; when it crosses below 50, a sell signal is displayed. These signals are displayed in a different color from reversal signals in "RSI_Middle_Cross" and "RSI_Reversal_And_Middle_Cross" modes. |
Customize RSI line and arrows
You can show or hide the RSI line and the 30/50/70 levels independently. The line color, width, and style, as well as the buy/sell arrow color, size, and position, are all customizable to match your chart windows. Even if the RSI line is hidden, the indicator continues to calculate the RSI and generate signals.
Receive RSI notifications for new signals
When a new buy or sell signal is generated, the indicator can send MT4/MT5 pop-up alerts, push notifications to your phone, and email notifications. This makes it easy to track signal events by symbol and timeframe even when you're away from your charts. To use push or email notifications, configure the notification settings in MT4/MT5 beforehand.
Notes on how signals are displayed
By default, signals are calculated based on completed candles. If the setting is changed to use the current candle, conditions may change before the candle closes, causing temporarily displayed signals to disappear. The RSI subwindow with buy/sell arrows are always displayed at the bottom of the chart and cannot be hidden.
Signals provided by this indicator do not guarantee trading results or profits, and no automated trading function is included. Use it together with other analysis methods and proper risk management when trading.
How to install
To use the RSI Buy Sell Signal Indicator, install the "[Myforex] RSI Buy Sell Signal Indicator" file on MetaTrader4/MetaTrader5.
Step 1
Click "File" from the menu bar at the top of MT4/MT5 and choose "Open Data Folder".
Step 2
After opening the data folder, double-click the folder "MQL5 (MQL4 for MT4)" in it to open it.
Step 3
Double-click to open the "Indicators" folder in the MQL5 file.
Step 4
Save the "[Myforex] RSI Buy Sell Signal Indicator" in the "Indicators" folder.
Step 5
Once the file is in the folder, right-click "Indicators" in the Navigator and choose "Refresh" from the displayed menu.
Step 6
After checking that the RSI Buy Sell Signal Indicator is shown in the "Indicators" of the Navigator, apply it to a chart by double-clicking or dragging and dropping.
Step 7
Refer to the "How to set up" page to make further settings in the "Inputs" tab, then click "OK".
How to set up
After applying the indicator to the chart, set the parameters according to your style.
Step 1
First, open the "Inputs" tab.
Step 2
Set the parameters as follows.
General Settings
| Item name | Description |
|---|---|
| Signal Mode | Choose the signal method from "RSI_Reversal," "RSI_Middle_Cross," or "RSI_Reversal_And_Middle_Cross." Reversal signals occur when RSI turns back from the upper/lower levels, while Middle Cross signals occur when RSI crosses the 50 line. "RSI_Reversal_And_Middle_Cross" combines both criteria. The arrow color identifies the signal type. |
| Use Confirmed Bar | Enable this parameter to calculate signals based on completed candles. When disabled, the setting is changed to use the current candle, which may cause temporarily displayed signals to disappear. |
| Signal Interval | Specifies the minimum interval (number of bars) to prevent repeated signals in the same direction from appearing within a short period. Increasing this value reduces the signal frequency. |
| Max Calculation Bars | Specifies the number of past bars used for signal calculation. The default value is recommended for normal use. |
| Signal Mode |
| Choose the signal method from "RSI_Reversal," "RSI_Middle_Cross," or "RSI_Reversal_And_Middle_Cross." Reversal signals occur when RSI turns back from the upper/lower levels, while Middle Cross signals occur when RSI crosses the 50 line. "RSI_Reversal_And_Middle_Cross" combines both criteria. The arrow color identifies the signal type. |
| Use Confirmed Bar |
| Enable this parameter to calculate signals based on completed candles. When disabled, the setting is changed to use the current candle, which may cause temporarily displayed signals to disappear. |
| Signal Interval |
| Specifies the minimum interval (number of bars) to prevent repeated signals in the same direction from appearing within a short period. Increasing this value reduces the signal frequency. |
| Max Calculation Bars |
| Specifies the number of past bars used for signal calculation. The default value is recommended for normal use. |
RSI Settings
| Item name | Description |
|---|---|
| RSI Period | Specifies the RSI calculation period. Higher values make RSI smoother. |
| Applied Price | Selects the price type used for RSI calculation. |
| Overbought Level | Specifies the RSI upper threshold used to determine overbought conditions. |
| Oversold Level | Specifies the RSI lower threshold used to determine oversold conditions. |
| Middle Level | Specifies the middle line used to determine trend direction. Used for RSI_Middle_Cross signals. |
| RSI Period |
| Specifies the RSI calculation period. Higher values make RSI smoother. |
| Applied Price |
| Selects the price type used for RSI calculation. |
| Overbought Level |
| Specifies the RSI upper threshold used to determine overbought conditions. |
| Oversold Level |
| Specifies the RSI lower threshold used to determine oversold conditions. |
| Middle Level |
| Specifies the middle line used to determine trend direction. Used for RSI_Middle_Cross signals. |
Filter Settings
| Item name | Description |
|---|---|
| Use RSI Direction Filter | Enables RSI direction change compared to the specified number of bars ago as an additional signal condition. |
| RSI Direction Lookback | Specifies the number of previous bars used for RSI direction filter. |
| Use Candle Filter | Enables the candle direction (bullish for buy signals, bearish for sell signals) as an additional signal condition. |
| Use RSI Direction Filter |
| Enables RSI direction change compared to the specified number of bars ago as an additional signal condition. |
| RSI Direction Lookback |
| Specifies the number of previous bars used for RSI direction filter. |
| Use Candle Filter |
| Enables the candle direction (bullish for buy signals, bearish for sell signals) as an additional signal condition. |
Display Settings
| Item name | Description |
|---|---|
| Show RSI Line | Enable this option to display the RSI line in the RSI subwindow. Turning it off does not affect signal detection. |
| RSI Direction Lookback | Specifies the number of previous bars used for RSI direction filter. |
| RSI Direction Lookback | Specifies the number of previous bars used for RSI direction filter. |
| Use Candle Filter | Enables the candle direction (bullish for buy signals, bearish for sell signals) as an additional signal condition. |
| Use RSI Direction Filter |
| Enables RSI direction change compared to the specified number of bars ago as an additional signal condition. |
| RSI Direction Lookback |
| Specifies the number of previous bars used for RSI direction filter. |
| Use Candle Filter |
| Enables the candle direction (bullish for buy signals, bearish for sell signals) as an additional signal condition. |
Display Settings
| Item name | Description |
|---|---|
| Show RSI Line | Enable this option to display the RSI line in the RSI subwindow. Turning it off does not affect signal detection. |
| Show Guide Lines | Enable this option to display the upper, lower, and middle guidelines. |
| Arrow Position Mode | Selects the buy/sell arrow position. "Fixed Level" displays arrows near the guidelines, while “RSI Value" displays them near the RSI value at signal detection. |
| Arrow Level Offset | Sets the arrow offset from the guidelines or RSI value. |
| Show RSI Line |
| Enable this option to display the RSI line in the RSI subwindow. Turning it off does not affect signal detection. |
| Show Guide Lines |
| Enable this option to display the upper, lower, and middle guidelines. |
| Arrow Position Mode |
| Selects the buy/sell arrow position. "Fixed Level" displays arrows near the guidelines, while “RSI Value" displays them near the RSI value at signal detection. |
| Arrow Level Offset |
| Sets the arrow offset from the guidelines or RSI value. |
Notification Settings
| Item name | Description |
|---|---|
| Enable Alert | Enable this option to show an MT4/5 pop-up alert for each new buy or sell signal. |
| Enable Push Notification | Enable this option to show an MT4/5 pop-up alert for each new buy or sell signal. |
| Enable Email Notification | Enable this option to receive emails for each new signal. MT4/5 email settings must be configured first. |
| Enable Alert |
| Enable this option to show an MT4/5 pop-up alert for each new buy or sell signal. |
| Enable Push Notification |
| Enable this option to show an MT4/5 pop-up alert for each new buy or sell signal. |
| Enable Email Notification |
| Enable this option to receive emails for each new signal. MT4/5 email settings must be configured first. |
In addition, options are available to fine-tune the display, including colors, thickness, line styles, and sizes for lines and arrows. These settings are less frequently adjusted and can usually be left at their default values.
Notes on Display and Notification Settings
This indicator displays the RSI and guide lines, and buy/sell arrows in a RSI subwindow below the chart, not on the main chart. The subwindow remains visible even when “Show RSI Line” and "Show Guide Lines" are OFF and cannot be hidden.
To use push/email notifications, configure the required settings (e.g., MetaQuotes ID and email registration) in MT4/5 Tools > Options first. Notifications will not be received unless these settings are completed, regardless of the indicator settings.
Created
: 2026.08.06
Last updated
: 2026.08.25
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