RSI Overbought / Oversold Indicator with alerts for MetaTrader 4

How RSI works

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.




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 alert notifications when the RSI readings are overbought or oversold

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



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
RSI Indicator with alerts for MetaTrader MT4

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.




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





best RSI alert indicator for MetaTrader mt4 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
best RSI alert indicator for MetaTrader mt4 Easy Installation - no MT4 license management and no Windows UAC issues
best RSI alert indicator for MetaTrader mt4 Faster load time compared to standard FX AlgoTrader MT4 specific products
best RSI alert indicator for MetaTrader mt4 Email alerts and push notifications (where specified) - reduces screentime and allow the market to come to you!
best RSI alert indicator for MetaTrader mt4 Profile options to allow traders to deploy their own custom indicator settings within a couple of mouse clicks
best RSI alert indicator for MetaTrader mt4 Auto chart sensing - click on a chart and the interface will load the configuration automatically!




RSI Alert Indicator for MetaTrader MT4

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

$49.95 USD