Color RSI with Alerts (MT4)

Color RSI with Alerts enhances the classic Relative Strength Index with dynamic color states and smart notifications. It highlights overbought/oversold sweeps, midline momentum flips, and trend‑aligned pullbacks in MetaTrader 4.

What it shows

• RSI line with color changes by state: above OB, below OS, rising/falling, or neutral.
• Levels — typical 70/30 (customizable), optional 80/20 extremes and 50 midline.
• (Optional) arrows/alerts — OB/OS touches/exits, 50‑line crosses, slope flips and divergence hints.

Trade ideas

1. Momentum flip: after a 50‑line cross up, buy the first pullback that keeps RSI > 40–45; mirror for shorts with < 55–60.
2. OB/OS sweep: fade exhausted spikes back toward 50 when price is range‑bound.
3. Trend‑aligned dips: in an uptrend, take RSI pullbacks from 60–80 back to 50–55 with a hook‑up; mirror for downtrends.
4. (Optional) Confluence: combine with MA/structure; color cues keep bias obvious.

Inputs that matter

• RSI period — responsiveness vs stability (14 default).
• OB/OS levels — common 70/30; extremes 80/20.
• Smoothing — optional RSI smoothing for cleaner color transitions.
• Alerts — OB/OS touch/exit, 50 cross, slope change.
• Colors/widths — fast visual read.

Suggested usage

• M5–M15: pullbacks after momentum flips.
• M30–H4: swing continuations; OB/OS resets.
• Daily+: regime read and risk tilt.

Installation (MT4)

1. Open MetaTrader 4 → File → Open Data Folder.
2. Copy color-rsi-with-alert-indicator.ex4 to MQL4/Indicators.
3. Restart MT4 (or refresh Navigator) and attach Color RSI with Alerts.
4. Tweak inputs → OK.

FAQ

Does it repaint? No on closed bars.
Use in EAs? Yes, via iCustom.
Markets? FX, indices, metals, crypto — anything on MT4.

Disclaimer: Test on a demo account first; risk management is essential.