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MetaTrader MT4 RSI Alert Indicator with Push Notifications

 

Video Overview of the RSI Alert Indicator Alert System

Overview

 

RSI is a technical momentum indicator which compares recent gains to recent losses. 

RSI attempts to determine overbought and oversold conditions of an asset. 

It is calculated using the following formula: RSI = 100 - 100/(1 + RS) 

RS is the average of the last x days up closes / Average of the last days down closes.

The chart below shows how the RSI for a forex pair ranges from 0 to 100. If the RSI value is greater than 70 the asset in question is considered overbought and if the RSI is less than 30 it is considered to be oversold. 

RSI Alert Indicator for MetaTrader MT4


A trader using RSI should be aware that large price changes will affect the RSI by creating false buy or sell signals, therefore RSI should be used as a complimentary tool rather than in isolation.

 

Features

 

The FX Algotrader RSI Alert Plus JFX Indicator for Metatrader is a hybrid JavaFX/MT4 tool which provides a configurable RSI alert system with the added benefit of a JavaFX control interface for very quick parameter changes. The indicator is ideal for short or medium term traders who use the RSI as an overbought/oversold indicator.

The indicator has trader configurable input parameters which provide the following functionality:-

 

Email Alert Option

 

If the 'Email_Alerts' parameter is set to 'true' the system will send an email alert to the email address specified in the MT4 email options screen.

RSI Alert Indicator with Email Alerts

Setting Email Alerts in the interface

 

6

Example Alert Email

 

Push Notifications


For trader who use the mobile MetaTrader platform which can receive push alerts. The RSI Alert Plus JFX tool allows a trader to push alert notifications to their mobile device running the MT4 trading platform

 

Push Alerts for RSI Indicator for MetaTrader

Setting push notifications in the interface

 

 

JavaFX Alert Module with Configurable Alert sounds

 

The JFX Series products have all use a JavaFX alerts interface which supplies a richer alert experience compared to the old school MT4 pop up alerts. The trader can select any wav file held on the local computer. The JFX versions do not require the sound file to be stored in the MT4 sounds folder. They can reside anywhere on the machine and can also be of longer duration without effecting system performance. Traditional MT4 indicators will clip any sounds played as the MT4 program thread cannot be slowed or paused while a sound file is being played.

 

JavaFX Alerts Module Java based Email Alert Module

 

Configurable Alert Sound for RSI Alert Indicator

Selecting the Alert Sound

 

Alert Control Module for RSI Alert Indicator Overview of the Alert Options

 

 

Total Control over all RSI related functions

 

Interface controls for RSI Alert Plus Indicator

How the interface maps to the RSI Indicator in MetaTrader MT4.

 

 

Convergent/Divergent Crossover Modes

 

Convergent and Divergent Crossover Mode for RSI Indicator

Selecting the Crossover Mode


In the screenshots below we can see how the trader can control the exact nature of the crossover alert

Scenario 1: Using 'Touch' Crossover Type and 'Divergent' Crossover Mode, the system would have produced an alert/signal at point A.

Divergent RSI Crossover Mode



Scenario 2: Using 'Touch' Crossover Type and 'Convergent' Crossover Mode, the system would have produced an alert/signal at point B

Convergent RSI Crossover Mode
Scenario 3: Using 'Printed' Crossover Type and 'Convergent' Crossover_Mode, the system would have produced an alert/signal at point C

Physical Convergence Signal on Relative Strength Indicator

Crossover Mode Scenarios


It's important to realise oscillators can remain in overbought/oversold territory for some time.

Therefore, having the ability to define the exact nature of the crossover you are looking to monitor can make a big difference to the quality of the entry.

 

Screenshots

 

RSI Alerts Plus JavaFX Interface

JavaFX Control Interface for RSI Alerts Plus Indicator

 

JavaFX Alerts Module

JavaFX Alerts Module

 

JavaFX RSI Control Interface with underlying MetaTrader 4 chart

JavaFX Interface running on top of MetaTrader MT4

 

Different Line Styles and Colours for RSI Alert Indicator

Line Style and Colour variations

 

Benefits

 

 

Ultra fast config changes, control of multiple charts from the JavaFX interface, the ability to play long duration wav files within indicators without clipping, sophisticated alert module which can be sorted, customized and inspected at any time
Easy Installation - no MT4 license management and no Windows UAC issues
Faster load time compared to standard FX AlgoTrader MT4 specific products
Email alerts and push notifications (where specified) - reduces screentime and allow the market to come to you!
Profile options to allow traders to deploy their own custom indicator settings within a couple of mouse clicks
Auto chart sensing - click on a chart and the interface will load the configuration automatically!

 

Pricing

 

RSI Indicator with push alerts for MetaTrader MT4

Perpetual License (One Time Fee) with free Technical Support
Licensing Details

£32.95 GBP