RSI

MT5-Style RSI Zones (20/30/70/80) with Signals & Alerts

Description (English first)

What it does
This script reproduces an MT5-style RSI with four-level zones (20/30/70/80) to better distinguish early/late overbought-oversold conditions. It highlights zone transitions, plots optional background shading, and triggers entry/exit alerts on precise crossings.

How it works (high-level logic)

Core is Wilder’s RSI on close (length = <default 14>).

Two oversold bands at 20 and 30; two overbought bands at 70 and 80.

Optional smoothing (<EMA/SMA>), and MTF confirmation (optional) compares current RSI vs a higher timeframe RSI.

Signals:

Long setup: RSI crosses above 20 (early) or 30 (conservative); confirmation if higher-TF RSI is rising.

Take-profit / exit: RSI fails to hold above 70 or crosses below 70 after being >80.

Short setup: mirror logic with 70/80 → 30/20.

Inputs

RSI Length (<14>), Source (close)

Upper Bands (70, 80), Lower Bands (30, 20)

Smoothing (<EMA 3> on RSI, optional)

Higher Timeframe (<none / 60>), Confirm with HTF (on/off)

Background Zones (on/off), Alerts (on/off)

How to use

Choose your market/timeframe. For FX/indices, M5–H1 works well; for swing, H1–H4.

Pick your aggressiveness: use 20/80 for early reversals, 30/70 for conservative trend pullbacks.

With MTF confirmation on, prioritize entries aligned with the higher timeframe RSI slope.

Combine with structure (S/R) or a simple MA filter for trend direction.

Originality & usefulness
Unlike generic RSI scripts, this version provides dual-zone logic (20/30/70/80) with clear visual states, optional HTF confirmation, and ready-made alerts designed to match MetaTrader-like RSI workflows. It is not a direct clone of public open-source scripts; zone handling and alert conditions are purpose-built for timing pullbacks vs. extremes.

Best markets & limitations

Works on FX, gold (XAUUSD), and indices (US30/NAS100).

In strong trends, overbought/oversold can persist—use bands as context, not standalone signals.

Spikes around news can cause false triggers—consider widening bands or disabling trades near events.

Alerts included

RSI Crosses Above 20, RSI Crosses Above 30

RSI Crosses Below 70, RSI Crosses Below 80

MTF Confirmed Long/Short (optional)

User interface translations (if your UI is in Spanish)

RSI Length → Periodo RSI

Upper Bands → Bandas Superiores

Lower Bands → Bandas Inferiores

Smoothing → Suavizado

Higher Timeframe → Marco Temporal Superior

Confirm with HTF → Confirmar con MTS

Background Zones → Zonas de Fondo

Alerts → Alertas

Disclaimer
This tool is for educational purposes. Not financial advice.