Smoothed RSI Indicator for MT4 and MT5

Written by Dominic Walsh · Published 10 Jul 2026 · Last updated 24 Sep 2026

Plain RSI jitters around its levels, crossing 30 or 70 several times in a row. The smoothed RSI indicator runs a five-bar exponential average over Wilder’s 14-bar RSI, so the line bends more calmly, and marks the bar where the smoothed line climbs out of 30 or drops out of 70.

This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.

Platforms	MT4 (.ex4) + MT5 (.ex5)
Chart window	Separate window (levels 30 / 50 / 70)
Plots	3: Smoothed RSI, Buy, Sell
Alerts	popup, push notification, email, sound
Inputs	11

What the file declares

A single smoothed line with marks, below price.

`Smoothed RSI` runs as the main line.

`Buy` sits on the line where it leaves 30.

`Sell` sits on the line where it leaves 70.

Reference levels mark 30, 50 and 70.

No price-chart drawing.

• Smoothed RSI: line
• Buy: arrow, arrow code 233
• Sell: arrow, arrow code 234

How the Smoothed Rsi Indicator reaches a value

Wilder’s RSI

`RSIPeriod` `14` seeds average gain and loss with a simple average, then applies Wilder’s smoothing.

Extra smoothing

`SmoothPeriod` `5` runs an exponential average over the RSI values, trimming bar-to-bar noise.

Exits

A buy prints when the smoothed line moves above `OversoldLevel` `30.0`. A sell prints when it drops under `OverboughtLevel` `70.0`.

Getting a read from it

A calmer line gives fewer false exits.

Exits come a bar or two later than on raw RSI.

`SignalCooldown` `5` spaces same-direction marks.

Readings above 50 favour buyers.

Only finished bars can carry a mark.

Warm-up needs about twenty bars.

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

Smoothed zone exits report once per closed bar. `EnableAlerts` controls them, and popups are the only messages at the start.

Every Smoothed Rsi Indicator input

Core settings

Setting	What it does	Default
RSIPeriod	Wilder RSI lookback. Wilder period, `14`.	14
SmoothPeriod	EMA smoothing of the RSI. Extra smoothing length, `5`.	5
OverboughtLevel	upper reference level. Upper reference, `70.0`.	70.0
OversoldLevel	lower reference level. Lower reference, `30.0`.	30.0
SignalCooldown	min bars between same-direction signals. Gap between same-side marks, `5`.	5

Alert settings

Setting	What it does	Default
EnableAlerts	Master alert switch, `true`.	on
EnablePopup	Popup, `true`.	on
EnablePushNotify	Phone route, `false`.	off
EnableEmail	Email route, `false`.	off
EnableSound	Speaker, `false`.	off
SoundFile	(see inputs panel)	alert.wav

Choosing where it lives

A smoothed RSI suits any liquid chart. The hourly EURUSD screenshot shows a zone exit every few days. On M15 exits come daily, and on D1 each exit marks the end of a stretched swing.

When it misleads

Smoothing adds a bar or two of lag.

Zone exits still come after the extreme.

RSI can stay extreme through a trend.

Only the popup is enabled at first.

Copy the compiled Smoothed Rsi 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 Smoothed Rsi Indicator: Exponential smoothing on Wikipedia, Relative Strength Index at Investopedia.

Download the Smoothed Rsi Indicator for MT4 and MT5

The zip holds the compiled Smoothed Rsi 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 SmoothPeriod 5 change about RSI?

It runs a five-bar exponential average over the RSI readings. Single-bar spikes shrink, so the line crosses 30 and 70 less often and with more meaning.

Which crossing of OversoldLevel prints a Buy?

The smoothed line moving from 30 or below to above 30. The mark flags the exit from oversold and sits directly on the line, on the bar that closed above.

Why add SignalCooldown 5?

Even a smoothed line can wobble around a level. The cooldown blocks a second mark in the same direction for five bars, keeping one mark per exit.

Is Smoothed RSI slower than plain RSI?

Slightly. The extra average adds about a bar or two of delay. In return, far fewer exits turn out to be single-bar noise, which is the reason to use it.

Are results guaranteed?

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