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RSI is a technical momentum indicator which compares recent gains to recent losses.
RSI attempts to determine overbought and oversold conditions for an asset.
It is calculated using the following formula: RSI = 100 - 100/(1 + RS)
RSI is the average of the last x days up closes / Average of the last days down closes.
The chart below shows how RSI for a forex pair ranges from 0 to 100. If the RSI value is greater than 70 the asset in question is considered to be overbought and if the RSI is less than 30 it is considered to be oversold. The FX AlgoTrader RSI Indicator for MT4 allows a trader to receive buy and sell signals when the RSI levels crosses or touches a trader defined high or low RSI value.
A trader using RSI should be aware that large price changes can affect the RSI by creating false buy or sell signals, therefore RSI should be used as a complimentary tool rather than in isolation as a stand alone buy / sell signal generator for MetaTrader 4. A good example of a complimentary indicator to use in conjunction with RSI is a moving average crossover indicator or MACD indicator.
The FX Algotrader RSI Crossover Alert Indicator for Metatrader 4 is a hybrid indicator which provides a fully configurable RSI alert system with the added benefit of a Java control interface for very quick parameter changes. The indicator is ideal for short or medium term traders wishing to receive buy / sell signals or alert notifications when the RSI readings are overbought or oversold
The indicator has trader configurable input parameters which provide the following functionality:-
RSI Alerts buy / sell signals sent by Email
If the 'Email Alerts' toggle button is selected the system will send an RSI buy / sell signal alert email to the address specified in the MT4 email options screen. The email will only be sent when the trader's custom RSI alert conditions are met
Setting RSI Buy/ Sell Signal Alerts in the interface
Example RSI Buy / Sell Signal Email
RSI Buy / Sell Signal sent by Push Notifications
If traders use mobile MetaTrader 4 platforms they can receive push notifications on their mobile device when their custom RSI alert conditions occur. It is important to note the main MetaTrader 4 system must be running on the trader's desktop/laptop machine for push based notifications to take place.
Setting RSI Buy/ Sell signal push notification option in the interface
![]() $69.95 USDOne Time Fee with free Technical Support (no ongoing charges) Licensing Details No Paypal account required |
Superior alert capabilities compared to standard MetaTrader 4 indicators
FX AlgoTrader Pro Series products all use a Java based alert module which supplies a richer alert experience compared to standard MT4 pop up alerts. Traders can select any wav file held on their local computer. Pro Series tools do not require sound files to be stored in the MT4 sounds folder, the wav files can reside anywhere on the machine (which the user has access rights to) and can also be of longer play duration without effecting system performance. Traditional MT4 indicators clip long duration sound files as soon as an incoming tick is received as the MT4 program thread cannot be slowed or paused.
Java based alert module for RSI email alerts
Selecting the RSI Alert Sound
Overview of the RSI Alert Options
Total Control over all RSI alert related functions
How the interface maps to the RSI Indicator in MetaTrader MT4.
Convergent/Divergent RSI Crossover Modes
Selecting the RSI Crossover Mode
In the screenshots below we can see how the trader can control the exact nature of the RSI crossover alert
Scenario 1: Using 'Touch' RSI Crossover Type and 'Divergent' RSI Crossover Mode, the system would have produced an RSI alert/signal at point A.![]() |
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Scenario 2: Using 'Touch' RSI Crossover Type and 'Convergent' RSI Crossover Mode, the system would have produced an RSI alert/signal at point B![]() |
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Scenario 3: Using 'Printed' RSI Crossover Type and 'Convergent' RSI Crossover_Mode, the system would have produced an RSI alert/signal at point C![]() |
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 RSO crossover you are looking to monitor can make a big difference to the quality of the trade entry.
Control Interface for RSI Alerts Plus Indicator
Java based Alerts Module
RSI Alert Interface running on top of MetaTrader MT4
Line Style and Colour variations
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Ultra fast config changes, control RSI alerts from multiple charts from a single interface, play long duration alert sounds from wav files when custom RSI alert conditions are met, sophisticated RSI alert module which can be sorted, customized and inspected at any time |
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Easy Installation - no MT4 license management and no Windows UAC issues |
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Faster load time compared to standard FX AlgoTrader MT4 specific products |
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Receive RSI alerts by email alerts and push notifications - reduce screentime and allow the market to come to you! |
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Create RSI alert profiles to quickly deploy custom RSI alert settings within a couple of mouse clicks on any MT4 chart |
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Auto chart sensing - click on a chart and the RSI Alert interface will load predefined configurations automatically! |
![]() $69.95 USDOne Time Fee with free Technical Support (no ongoing charges) Licensing Details No Paypal account required |