RSI Extreme Zone Indicator for MT4 and MT5

Written by Dominic Walsh · Published 8 Jul 2026 · Last updated 24 Sep 2026

It helps to see at a glance how long RSI has stayed stretched. The RSI extreme zone indicator draws a 14-bar RSI and fills vertical bars wherever it sits above 70 or below 30. When it leaves a zone, it marks that bar in the pane.

This build ships as a compiled .ex4 for MT4 and .ex5 for MT5.

Platforms	MT4 (.ex4) + MT5 (.ex5)
Chart window	Separate window (levels 30 / 50 / 70)
Plots	5: RSI, OB Zone, OS Zone, BUY, SELL
Alerts	popup, push notification, email, sound
Inputs	10

What the build actually draws

An RSI line, zone bars and marks in a pane.

`RSI` traces medium orchid at width 2.

`OB Zone` fills tomato bars above 70.

`OS Zone` fills medium sea green bars below 30.

`BUY` sits just under the RSI line.

`SELL` sits just over it.

• RSI: line, medium orchid, width 2
• OB Zone: histogram, tomato, width 1
• OS Zone: histogram, medium sea green, width 1
• BUY: arrow, lime, width 2, arrow code 233
• SELL: arrow, red, width 2, arrow code 234

Inside the calculation

RSI

`RSIPeriod` `14` uses Wilder’s averaging of closes, seeded with a simple average.

Zone shading

Each bar with RSI at or above `OverboughtLevel` `70` gets a tomato bar; at or below `OversoldLevel` `30`, a green one.

Exits

A buy marks the bar where RSI climbs from below 30 to 30 or above. A sell marks the drop back under 70.

How to use what it draws

Wide shaded patches mean long stretches.

Short patches mean quick spikes.

Marks flag the exit, not the entry.

`ArrowGap` `2` keeps marks off the line.

Guides sit at 30, 50 and 70.

Warm-up needs about fifteen bars.

Alert channels in this build: popup, push notification, email and sound, one message per closed bar.

Zone exits send one message per closed bar. `EnableAlerts` controls them, and popup is the one delivery switched on by default.

Every Rsi Extreme Zone Indicator input

Core settings

Setting	What it does	Default
RSIPeriod	RSI lookback period. RSI length, `14`.	14
OverboughtLevel	Overbought threshold. Upper zone, `70`.	70
OversoldLevel	Oversold threshold. Lower zone, `30`.	30

Display settings

Setting	What it does	Default
ArrowGap	Arrow offset from RSI value (points on RSI scale). Mark gap on the RSI scale, `2`.	2

Alert settings

Setting	What it does	Default
EnableAlerts	Master alert switch, `true`.	on
EnablePopup	Popup, `true`.	on
EnablePushNotify	Mobile route, `false`.	off
EnableEmail	Email route, `false`.	off
EnableSound	Speaker, `false`.	off
SoundFile	Speaker clip, `”alert.wav”`.	alert.wav

Choosing well

Zone shading works on any chart. EURUSD H1 is the reference chart, with a shaded patch every few days. On M15 patches come daily. On D1 a long patch marks a strong trend.

When the Rsi Extreme Zone Indicator fails

Long shaded patches show strength, not reversal.

Exits come after the peak.

Fixed 30 and 70 suit some pairs better than others.

Only the popup is on at first.

Copy the compiled Rsi Extreme Zone Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.

Background reading on the method behind the Rsi Extreme Zone Indicator: Overbought at Investopedia, Relative strength index on Wikipedia.

Download the Rsi Extreme Zone Indicator for MT4 and MT5

The zip holds the compiled Rsi Extreme Zone Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.

FAQ

What does the OB Zone shading show?

Every bar where RSI sat at or above 70. A wide tomato patch means momentum stayed stretched for a long time, which often happens in strong trends.

When does a BUY mark print below the RSI line?

On the bar where RSI climbs from below 30 to 30 or above. The mark flags the exit from the oversold zone, just under the RSI line.

Should OverboughtLevel stay at 70 on every pair?

Not always. Trending pairs spend long stretches above 70, so some traders use 80 there. Adjust both levels to fit how the pair usually swings.

Why is ArrowGap measured on the RSI scale?

The marks live in the RSI pane, so their offset is in RSI points. Two points keeps them just clear of the line without drifting away.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Rsi Extreme Zone Indicator as one input. Always backtest before trading live.