Smoothed Relative Strength Index (RSI) Indicator Download for MetaTrader 5 - Free - MT4/MT5 Resource

The Smoothed Relative Strength Index (Smoothed RSI) indicator is a practical and advanced tool for traders to identify overbought and oversold zones in RSI . This MetaTrader 5 volatility indicator is developed specifically for the MetaTrader 5 platform. It changes color to orange in overbought areas and green in oversold areas. It also sends alerts to notify traders when the oscillator enters these areas.

By utilizing a moving average , this indicator reduces the extreme volatility and noise of the RSI indicator , improving analytical accuracy and helping traders make better trading decisions.

RSI Indicator Table

Smoothed RSI indicator at a glance

The Smoothed RSI indicator is an advanced version of the classic RSI. By incorporating a moving average, this indicator reduces RSI volatility.

When the oscillator enters the oversold zone , it turns green ; in the overbought zone , it changes to orange . Additionally, the indicator sends alerts to notify traders of entering overbought and oversold areas.

Oscillator oversold zone

The Smoothed RSI Oscillator shows oversold territory on the USD/CAD 1-hour chart. The indicator changes color and alerts traders that the price has entered this area. The smoothed moving average indicator eliminates excessive RSI fluctuations, allowing traders to conduct more precise and better analysis.

Oscillator overbought zone

In the ADA/CAD 1-hour chart, the smoothed RSI oscillator reaches the overbought zone , changes to orange and sends an alert to inform traders of this threshold. Traders can use this signal to enter or exit the position when the oscillator enters this zone.

Smoothed RSI indicator settings

Display Settings

• Chart Theme : Select a custom theme for the indicator;

Indicator Settings

• RSI Period : Set the RSI period;
• Applied Price : Select the calculation type;
• Overbought : Set the overbought level;
• Oversold : Set the oversold level;
• Smoothing ON : Turn on/off RSI smoothing;
• Alerts ON : turn on/off alarms;
• Zone Entry Alerts : Toggle alerts when entering overbought/oversold zones;
• Alerts on Zone Exit : Switch alerts when exiting the overbought/oversold zone;
• Alerts on Open Bar : Toggle price closing alerts when exiting overbought/oversold areas;
• Alert Message ON : Turn on/off message reminder;
• Alert Sound ON : Turn on/off the sound alarm;
• Alert Email ON : Turn on/off email alerts.

Conclusion

The Smoothed RSI Oscillator is a MetaTrader5 trading assistant that helps traders identify overbought and oversold zones . When the oscillator enters oversold territory, it turns green; when it enters overbought territory, it turns orange.

Additionally, it sends alerts to notify traders of entries or exits from these areas. Uses a unique algorithm to eliminate common situation RSI fluctuations, providing smoother, more precise movements to simplify traders' analysis and decision-making.