RSI with Alert for MT4 and MT5 (2024)

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:

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.

Downloads

➥ Download MQLTA MT4 RSI With Alert

MT4 RSI Alert installation

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

Download the indicator archive file.
Open the MetaTrader 4 data folder (via File→Open Data Folder).
Open the MQL4 Folder.
Copy all the folders from the archive directly to the MQL4 folder.
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.

Downloads

➥ Download MQLTA MT5 RSI With Alert

MT5 RSI Alert installation

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

Download the indicator archive file.
Open the MetaTrader 5 data folder (via File→Open Data Folder).
Open the MQL5 Folder.
Copy all the folders from the archive directly to the MQL5 folder.
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..

You can open a trading account with any of the MT4 Forex brokers to freely use the presented here indicator for MetaTrader 4. If you want to use an MT5 version of the indicator presented here, you would need to open an account with a broker that offers MetaTrader 5.

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

1.05 — 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.

FAQs

RSI with Alert for MT4 and MT5? ›

RSI with Alert is an indicator for MT4 and MT5 by EarnForex.com. It is based on the Relative Strength Index (RSI) indicator. It finds points where the RSI line either goes out of the boundary levels or returns into the boundary levels.

How to set RSI alert on MT5? ›

MT5 RSI Alert installation

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

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Can MT4 indicators work on MT5? ›

Many traders have accumulated a lot of indicators written in MQL4. To use these indicators in MT5, they need to convert them to MQL5 format. It's not so easy to rewrite all the indicators for MQL5 and it would be much easier to convert them.

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What is the RSI indicator with alerts MT5? ›

How do I set up RSI alerts? ›

RSI Multi Alerts MTF

Add indicator to the chart.
Go to settings.
Choose up to 8 different symbols to get alert notification.
Choose up to 4 different timeframes.
Set overbought and oversold levels.

More items...

Apr 18, 2024

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Can you set alerts on MetaTrader 4? ›

The MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are the most popular trading platforms used by traders worldwide. Both platforms offer many advanced features, including the ability to set alerts and notifications.

What stock app shows RSI? ›

EasyRSI provides a comprehensive dashboard that allows you to view the RSI value of many popular instruments and across multiple timeframes (M5, M15, M30, H1, H4, D1) at one glance.

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What is the best indicator to work with RSI? ›

One technical indicator that can be used in conjunction with the RSI and helps confirm the validity of RSI indications is another widely-used momentum indicator, the moving average convergence divergence (MACD).

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What is the best setting for RSI indicator? ›

While the default RSI setting is 14-periods, day traders may choose lower periods of between 6 and 9, so that more overbought and oversold signals are generated. Ideally, these levels should correspond with support and resistance levels.

Why do people use MT4 and not MT5? ›

Both beginners and experienced traders appreciate MT4 because it is multi-functional, user-friendly, and allows users to customize the interface to their needs. It also offers advanced trading tools that allow traders to implement their favorite strategies.

Can I use both MT4 and MT5? ›

Yes. If you have an MT4 and an MT5 account, you can trade on both platforms, providing you have successfully completed any required downloads and installations.

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Can I install both MT4 and MT5? ›

By default you are unable to run more than one MT4/MT5 platform from the same place at the same time. If you wish to run two instances of MT4 or MT5 platform on your PC, you will need to install a second instance of the platform but in different directories on your PC.

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How to set RSI indicator? ›

When trading with RSI, traders also watch out for overbought and oversold signals. While the default RSI setting is 14-periods, day traders may choose lower periods of between 6 and 9, so that more overbought and oversold signals are generated. Ideally, these levels should correspond with support and resistance levels.

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What is the RSI scanner alert indicator for MetaTrader? ›

The RSI Scanner MT4 is a custom indicator that scans multiple symbols and timeframes to identify overbought and oversold conditions based on the Relative Strength Index (RSI). It generates alerts when the RSI crosses predefined levels, indicating potential trading opportunities.

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What is the RSI divergence indicator for MT5? ›

Overview: The RSI Divergence Indicator is a custom indicator developed for MetaTrader 5 (MT5) platform. It is designed to identify potential trend reversals by detecting divergences between the price and the Relative Strength Index (RSI) indicator.

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Does MT5 have stochastic RSI? ›

It is used in technical analysis to provide a stochastic calculation to the RSI indicator. This means that it is a measure of RSI relative to its own high/low range over a user defined period of time.

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