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【MT4/MT5】RSI MTF Buy Sell Filter Indicator
【MT4/MT5】RSI MTF Buy Sell Filter Indicator
- Overview
- How to install
- How to set up
Display:
The RSI MTF (multi-timeframe) Buy Sell Filter Indicator analyzes the RSI from the selected higher-timeframe (HTF) to determine whether the market is bullish, bearish, or neutral. The result is displayed in the RSI subwindow as BUY OK/SELL OK/NEUTRAL to help you assess the market environment.
Features: RSI MTF higher-timeframe display
Use the HTF RSI to identify BUY OK/SELL OK/NEUTRAL
This tool uses the position and direction of the selected HTF RSI to determine whether the market is bullish or bearish, or remains neutral, shown as BUY OK/SELL OK/NEUTRAL. The background band and label in the RSI subwindow make it easy to check the HTF market environment before entry, for manual trading or use with other indicators.
Switch between three filter modes
There are three filter modes to choose from: Middle, Direction, and Middle And Direction. The default is Middle And Direction mode, displaying BUY OK or SELL OK only when the RSI’s position and direction align, helping reduce false signals in choppy markets.
Status label for a quick view of the RSI value and filter status
The selected timeframe, RSI value, and filter status are displayed together in the top-right corner of the RSI subwindow for quick reference, so you don't need to recheck the RSI values every time you switch charts. This label can be customized or hidden.
How to install
To use the RSI MTF Buy Sell Filter Indicator, install the "[Myforex] RSI MTF Buy Sell Filter Indicator" file on MetaTrader4 (MT4) /MetaTrader5 (MT5).
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 MTF Buy Sell Filter 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 MTF Buy Sell Filter Indicator is shown in the "Indicators" of the Navigator, apply it to a chart by double-clicking or dragging and dropping.
If you can't see the Navigator window, Go to the menu bar and select "View" → "Navigator". Alternatively, press Ctrl+N to show or hide the Navigator window.
Step 7
Refer to the "How to set up" page to make further settings in the "Inputs" tab, then click "OK".
If the indicator can't be added to a chart, Verify that the indicator is saved in the Indicators folder and that the file name has not been changed. If it still doesn't appear after refreshing the Navigator window, restart MT5 and try again.
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 |
|---|---|
| Filter Mode | Choose from three filter modes: Middle, Direction, and Middle And Direction. |
| Higher Timeframe | Choose a higher timeframe for the filter. |
| RSI Period | Specify the HTF RSI calculation period. |
| Applied Price | Select the price type used for RSI calculation (e.g., close, open, high, and low). |
| Use Confirmed Higher-Timeframe Bar | Enable this option to calculate the RSI using confirmed HTF bars. When it is OFF, open bars are used. |
| Maximum Calculation Bars | Specify the maximum number of past bars used for calculation. |
| Filter Mode |
| Choose from three filter modes: Middle, Direction, and Middle And Direction. |
| Higher Timeframe |
| Choose a higher timeframe for the filter. |
| RSI Period |
| Specify the HTF RSI calculation period. |
| Applied Price |
| Select the price type used for RSI calculation (e.g., close, open, high, and low). |
| Use Confirmed Higher-Timeframe Bar |
| Enable this option to calculate the RSI using confirmed HTF bars. When it is OFF, open bars are used. |
| Maximum Calculation Bars |
| Specify the maximum number of past bars used for calculation. |
Filter Settings
| Item name | Description |
|---|---|
| Overbought Level | Set the HTF RSI overbought level. |
| Middle Level | Set the middle level that separates bullish and bearish momentum. |
| Oversold Level | Set the HTF RSI oversold level. |
| Neutral Range | Set the range above and below the 50 line to define the NEUTRAL zone. |
| Direction Lookback Bars | Set how many bars back to compare the RSI value against when determining its direction. |
| Minimum RSI Change | Specify the minimum change required to determine the RSI direction. |
| Overbought Level |
| Set the HTF RSI overbought level. |
| Middle Level |
| Set the middle level that separates bullish and bearish momentum. |
| Oversold Level |
| Set the HTF RSI oversold level. |
| Neutral Range |
| Set the range above and below the 50 line to define the NEUTRAL zone. |
| Direction Lookback Bars |
| Set how many bars back to compare the RSI value against when determining its direction. |
| Minimum RSI Change |
| Specify the minimum change required to determine the RSI direction. |
Display Settings
| Item name | Description |
|---|---|
| Show MTF RSI Line | Enable this option to show the HTF RSI line. |
| Show RSI Levels | Enable this option to show 30/50/70 lines. |
| Show Background Band | Enable this option to show a background band corresponding to the filter status. |
| Show Status Label in Band | Enable this option to show a label on the background band (BUY OK/SELL OK/NEUTRAL). |
| Show Top-Right Status Label | Enable this option to show the status label with the timeframe, RSI value, and filter status. |
| Show Filter Bar | Enable this option to show a bar indicating the filter status. |
| MTF RSI Line Width/Style | Set the width and style of the HTF RSI line. |
| RSI Level Line Style | Set the styles of the 30, 50, and 70 lines. |
| Background Label Size | Set the background band label font size. |
| Status Label Size | Set the status label font size. |
| Show MTF RSI Line |
| Enable this option to show the HTF RSI line. |
| Show RSI Levels |
| Enable this option to show 30/50/70 lines. |
| Show Background Band |
| Enable this option to show a background band corresponding to the filter status. |
| Show Status Label in Band |
| Enable this option to show a label on the background band (BUY OK/SELL OK/NEUTRAL). |
| Show Top-Right Status Label |
| Enable this option to show the status label with the timeframe, RSI value, and filter status. |
| Show Filter Bar |
| Enable this option to show a bar indicating the filter status. |
| MTF RSI Line Width/Style |
| Set the width and style of the HTF RSI line. |
| RSI Level Line Style |
| Set the styles of the 30, 50, and 70 lines. |
| Background Label Size |
| Set the background band label font size. |
| Status Label Size |
| Set the status label font size. |
Color Settings
| Item name | Description |
|---|---|
| Buy/Sell/Neutral Background Color | Set the background band colors for BUY OK, SELL OK, and NEUTRAL. |
| Buy/Sell/Neutral Text Color | Set the label font colors for BUY OK, SELL OK, and NEUTRAL. |
| MTF RSI Line Color | Set the HTF RSI line color. |
| Buy/Sell/Neutral Label Text | Edit the labels, which default to BUY OK, SELL OK, and NEUTRAL. |
| Overbought/Middle/Oversold Line Color | Set the 30/50/70 line colors (MT5 only). These colors are fixed on MT4. |
| Buy/Sell/Neutral Background Color |
| Set the background band colors for BUY OK, SELL OK, and NEUTRAL. |
| Buy/Sell/Neutral Text Color |
| Set the label font colors for BUY OK, SELL OK, and NEUTRAL. |
| MTF RSI Line Color |
| Set the HTF RSI line color. |
| Buy/Sell/Neutral Label Text |
| Edit the labels, which default to BUY OK, SELL OK, and NEUTRAL. |
| Overbought/Middle/Oversold Line Color |
| Set the 30/50/70 line colors (MT5 only). These colors are fixed on MT4. |
Alert Settings
| Item name | Description |
|---|---|
| Enable Pop-up Alert | Enable this option to show an MT4/MT5 pop-up alert whenever the filter status changes. |
| Enable Push Notification | Enable this option to receive push notifications on the mobile app. |
| Enable Email Notification | Enable this option to receive emails at your registered address. |
| Alert on Buy OK | Enable this option to get notified when the filter switches to BUY OK. |
| Alert on Sell OK | Enable this option to get notified when the filter switches to SELL OK. |
| Alert on Neutral | Enable this option to get notified when the filter switches to NEUTRAL. |
| Enable Pop-up Alert |
| Enable this option to show an MT4/MT5 pop-up alert whenever the filter status changes. |
| Enable Push Notification |
| Enable this option to receive push notifications on the mobile app. |
| Enable Email Notification |
| Enable this option to receive emails at your registered address. |
| Alert on Buy OK |
| Enable this option to get notified when the filter switches to BUY OK. |
| Alert on Sell OK |
| Enable this option to get notified when the filter switches to SELL OK. |
| Alert on Neutral |
| Enable this option to get notified when the filter switches to NEUTRAL. |
Notes on use
Values may change due to the re-fetching of historical data or other factors. This indicator is intended to help assess market conditions and does not guarantee trading results. Please use it in conjunction with other forms of analysis and make your own entry decisions.
Created
: 2026.08.21
Last updated
: 2026.08.31
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