RSI Arrow Indicator for MetaTrader 4 – Free Download | Forex Indicator Download – MT4/MT5 Resource

On July 6, 2025, in version 2, the indicator added alerts/notifications and signals functionality

The RSI Arrow Indicator is a trading signal that displays trading signals within an oscillator window based on the Relative Strength Index (RSI) .

This oscillator consists of the RSI line and the moving average signal line. Entry, exit and overbought/oversold signals are generated by the blue and red arrows at the intersection of these lines.

RSI Arrow Indicator Table

The general specifications of the RSI Arrow Indicator are as shown in the following table:

Indicator Overview

The RSI Arrow Indicator is a technical analysis tool that adds colored arrows to charts to indicate trading opportunities and highlight overbought or oversold areas, as shown below:

• Blue Arrow : Occurs when the RSI exits the oversold zone (below 30) and crosses above the EMA line;
• Red Arrow : Occurs when the RSI exits the overbought zone (above 70) and crosses below the EMA line.

Uptrend Conditions

The image below shows a 30 minute chart of the CAD/CHF currency pair.

In this chart, a momentum shift occurs when the RSI curve exits the oversold zone (below the 30 level) and crosses above the moving average, indicating that an uptrend is emerging.

The appearance of the blue arrow at this moment confirms the bullish momentum and provides a strong buy signal .

downtrend conditions

The chart below shows the currency pair on the GBP/USD 5-minute time frame.

In this case, a sell signal triggers when the RSI crosses below the EMA, and a red arrow appears simultaneously.

This indicates that the market is overbought and may be entering a correction or reversal into a downtrend .

RSI Arrow Indicator Settings

Set the panel to RSI Arrow Indicator as shown below:

• RSI Period : RSI calculation period;
• EMA Period : exponential moving average period;
• Applied Price : Applicable price type;
• Offset : Timeshift.

Conclusion

The RSI Arrow Indicator is a practical tool for technical traders that combines RSI and EMA to generate clear buy and sell signals using simple blue and red arrows.

This oscillator is particularly effective at identifying reversal points , trend shifts , and overbought and oversold zones .