Relative Strength Index (RSI) ‘Out’ Arrow Alert Indicator (MT4 and MT5)

• Version
• Download 1393
• File Size 37.58 KB
• File Count 1
• Create Date October 8, 2019
• Last Updated February 27, 2025

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Relative Strength Index (RSI) ‘Out’ Arrow Alert Indicator (MT4 and MT5)​​

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This indicator will generate an arrow alert whenever the Relative Strength Index (RSI) crosses 'OUT' below the oversold/bottom level or 'OUT' above the overbought/top level. The top level indicates a potential Overbought/SELL signal and bottom level indicates a potential Oversold/BUY signal.

This indicator should only be used with or as part of a reliable, consistent working strategy that requires the use of the Relative Strength Index (RSI) indicator.

Notes and recommendations: Works well with ranging markets. Avoid using during 15-20 minutes before and after medium/high impact news and opening hour of major market sessions. Should only be used with a reliable strategy, proper market analysis and added confirmations to suggest high probability win trade. Take caution during NFP (Non-farm payroll) week, try to avoid trading during NFP week.

Arrow Style Types Table: (Go to Arrow Styles Types page for more details and instructions)

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