Stop Missing RSI Divergence Trading Opportunties
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Let This Indicator be Your “Second Set of Eyes”
We've all been there…
You see a perfect RSI divergence setup…that just passed you by.
Unfortunately, it can be easy to miss divergence opportunities.
You have a lot of things to do during the day, so it can be easy to forget to check your charts.
This indicator will keep an eye on the charts, even when you can't.
Simply turn on mobile app notifications and your desktop or laptop will send an alert to your mobile phone.
It's like having a trading assistant that watches the charts for you.
How the RSI Divergence Alert Indicator Works
This alert indicator first looks for an overbought or oversold condition on the RSI, to increase the probability of success.
By looking for this condition first, it increases the probability of success because price is at an extreme point and could be ready to reverse.
Once there is an overbought or oversold condition, the indicator looks for any divergences that happen after the overbought or oversold condition.
This is a bullish example of the indicator.
Each instance is marked with lines on both the price graph and the RSI graph and an arrow, so you can easily see the divergence.
There is also an arrow that marks the candle that completed the divergence.
Once the signal candle closes and divergence is confirmed by the indicator, you'll get an alert.
Get alerts on any one or multiple notification methods you choose:
- MT5 mobile app push notification
- Screen alert with sound
- Text message (only if your mobile phone service provides email-to-text capability)
- Send push notification: Send push notification to MT5 mobile app
- Send email: Send email alert (requires email to be setup in MT5 desktop)
- Send Screen alert: Send on-screen alerts in MT5 desktop
- Overbought level: The alert level for overbought signals
- Oversold level: The alert level for overbought signals
- RSI period: Number of periods to use to calculate current RSI value
- No. of Max/Min Points: Number of divergences to look for after each overbought/oversold condition. 10 is a good place to start.
- High divergence line color: The color of a bearish line
- Low divergence line color: The color of a bullish line
- Line thickness: Line size
- Arrow sign: Show arrow?
- Arrow up code: Bullish arrow shape
- Arrow down code: Bearish arrow shape
- Arrow up color: Bullish arrow color
- Arrow down color: Bearish arrow color
- Arrow offset: Distance between arrow and candles
- Arrow size: Set the arrow size
Here’s what you need to run this indicator.
- A computer capable of running MetaTrader 5 desktop version.
- MetaTrader 5 installed on your desktop or laptop computer.
- Your computer must be turned on, MT5 must be running in order to get alerts. If you cannot do this at your home or office, consider subscribing to a VPS service.
- The indicator must be attached to the chart you want to watch, with alerts activated in the settings.
- A reliable internet connection.
Professional Quality Programming and Support
We have partnered with 4XDev, one of the top trading software development companies, to create this indicator.
When you buy this plugin, you can be assured that you are getting the highest quality programming at a reasonable price. 4XDev provides full support for this indicator and you can contact them if you have any questions.
They are also available for customizations of this indicator.
Frequently Asked Questions
Click the “+” symbol to see the answer to each question.