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CustomRsi50

FREE

Published: 4 September 2024

Current version: 1.4

CustomRsi50

Name: CustomRsi50
Rating: 4.5 (2 reviews)
Author: Francesco Capurso

4.5

Indicators
Francesco Capurso
Francesco Capurso
Web Developer at Roma

Italy

681
4.5 (2)
About Me
Hello! My name is Francesco Capurso, and I am a passionate developer who has recently discovered the fascinating world of MQL5. Combining my love for trading with my technical skills, I have embarked on a journey to develop a series of custom Expert Advisors (EAs) and indicators.

2 products 3 topics 5 comments
Version: 1.4
Updated: 6 September 2024

CustomRSI50 - Customized RSI Indicator with Level 50

Description

CustomRSI50 is a customized technical indicator based on the popular Relative Strength Index (RSI). This indicator provides a clear and customizable view of the RSI, with a special emphasis on the 50 level, which is crucial for many traders in momentum analysis.

Main Features

Configurable RSI period
Highlighted 50 reference level
Customizable applied price type
Displayed in a separate window
Fixed scale from 0 to 100 for easy interpretation

Customizable Parameters

RSI_Period: Allows you to set the period for RSI calculation (default: 14)
applied_price: Allows you to select the price type used for the calculation (default: close price)

How to Use CustomRSI50

Apply the indicator to any chart in your MetaTrader 5.
Customize the RSI period and price type according to your preferences.
Observe the RSI movement relative to the 50 level:
- Values above 50 indicate bullish momentum.
- Values below 50 indicate bearish momentum.

Signal Interpretation and Higher Timeframes

The indicator provides signals based on the RSI crossing the 50 level. Here’s how to make the best use of it:

Entry Signal: When RSI crosses the 50 level at candle close, you can enter with a risk/reward ratio of 1:1.5, extendable if needed.
Higher Timeframe Confirmation: Additional confirmation can be obtained by observing the RSI behavior on higher timeframes. For instance, if on a higher timeframe (H4 or H8) the RSI is above 50, it's preferable to look for long signals on lower timeframes like H1 or M15.

Higher Timeframe Confirmation Table

Trading Timeframe	Confirmation Timeframe	Action Strategy
M5	H1	Look for long signals on M5 only if RSI on H1 is above 50; short signals if it's below 50
M15	H4	Look for long signals on M15 only if RSI on H4 is above 50; short signals if it's below 50
H1	H8	Look for long signals on H1 only if RSI on H8 is above 50; short signals if it's below 50
H4	Daily	Look for long signals on H4 only if RSI on Daily is above 50; short signals if it's below 50

Advantages

Clear visualization of market momentum
Easy identification of trend changes around the 50 level
Customization to fit various trading strategies

Advanced Version

Discover the advanced version of CustomRSI50AlertAndMail Available for $30, this premium version includes additional features such as email notifications and sound alerts for every RSI cross over the 50 level, so you never miss an important signal! Click here to learn more.

CustomRSI50 is the perfect tool for traders who want a clear and customizable RSI analysis, with a special focus on the critical 50 level. The integration with higher timeframe cycles adds an additional level of confirmation, making the indicator reliable for various trading strategies.

more...

106

AlephTrader 2026.08.02 16:20 #

¡Buena ayuda, muchas gracias!

934

cham 2025.11.11 08:09 #

при тренде норм

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Description The CustomRSI50 Alert and Mail at Cross is an advanced technical indicator based on the popular Relative Strength Index (RSI), designed to simplify automated trading with immediate notifications via alerts and emails when the RSI level crosses the 50 threshold. The indicator provides a clear and customizable visualization of the RSI, with a particular emphasis on the critical 50 level for many traders in momentum analysis. Main Features Sending alerts and email notifications at the 5

30 USD

Filter:

106

AlephTrader 2026.08.02 16:20 #

¡Buena ayuda, muchas gracias!

934

cham 2025.11.11 08:09 #

при тренде норм

681

Reply from developer Francesco Capurso 2025.11.15 17:28 #

Thank you for your 4-star review and for using CustomRsi50!
You’re right – the indicator is designed to work especially well in trending markets.
I’m already considering improvements for range/flat conditions for future updates.
If you have any suggestions or examples from your trading, feel free to share them. Спасибо за отзыв! Индикатор действительно лучше всего работает на трендовом рынке.