CustomRsi50 Alert and Mail at cross

  • Indicators
  • Francesco Capurso
    Francesco Capurso

    Francesco Capurso

    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: 1.5
  • Updated: 11 September 2024
  • Activations: 20

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

Customizable Parameters

  • RSI_Period: Allows setting the period for RSI calculation (default: 14)
  • applied_price: Allows selecting the price type to use for calculation (default: closing price)
  • EnableAlert: Enables or disables sound alerts
  • EnableEmail: Enables or disables sending email notifications
  • LookBackCandles: Number of candles to consider for crossovers (default: 5)

How to Use CustomRSI50 Alert and Mail at Cross (Setup and Configuration)

  1. Apply the indicator to any chart in your MetaTrader 5.
  2. Customize the RSI period and price type according to your preferences.
  3. Configure the alert and email notification parameters to receive real-time alerts on crossovers.
  4. Adjust the number of candles to determine the reference period for recent crossovers (LookBackCandles).
  5. Observe the movement of the RSI in relation to the 50 level:
    • Values above 50 indicate bullish momentum.
    • Values below 50 indicate bearish momentum.

What to Watch For (Signal Interpretation and Higher Cycles)

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

  • Entry Signal: When the RSI crosses the 50 level at candle close, you can enter with a risk/reward ratio of 1:1.5, which can be extended if needed.
  • Higher Cycle: An important additional confirmation can be obtained by observing the behavior of the RSI on higher timeframes. For example, if on a higher timeframe (H4 or H8) the RSI is above 50, it is preferable to only look for long signals on smaller timeframes like H1 or M15.

Cyclical Table to Confirm Signals with Higher Cycle

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

Support and Troubleshooting

If you experience malfunctions or issues with the indicator, we invite users to contact us providing the error code displayed in the MetaTrader terminal. This will allow us to provide targeted and quicker assistance. Without the error code, troubleshooting may take longer.

Advantages

  • Immediate notifications via alerts and emails at the RSI crossover
  • Clear visualization of market momentum
  • Easy identification of trend changes around the 50 level
  • Customization to fit various trading strategies
  • Time-saving and automatic monitoring of RSI signals without constantly watching the chart
  • Ability to integrate higher cycle analysis for more reliable signals

CustomRSI50 Alert and Mail at Cross is the ideal tool for traders looking to receive immediate and accurate trading signals based on the RSI, improving operational efficiency and saving valuable time. By integrating higher cycle monitoring, this indicator becomes a powerful ally for obtaining reliable signals in any timeframe.

Email Configuration Guide for MetaTrader 5

1. Preparing Your Google Account

  1. Log in to your Google account: https://myaccount.google.com/
  2. Go to the "Security" section
  3. Ensure that "Two-Step Verification" is enabled
  4. Search for "App Passwords" and select it
  5. In the "Select app" section, choose "Other (Custom name)"
  6. Enter a name like "MetaTrader 5"
  7. Click "Generate"
  8. Copy the generated 16-character password. Do not close this window until you have completed the configuration in MetaTrader

2. Configuration in MetaTrader 5

  1. Open MetaTrader 5
  2. Go to "Tools" > "Options"
  3. Select the "Email" tab
  4. Check the "Enable" box
  5. Fill in the fields as follows:
    • SMTP Server: smtp.gmail.com:465
    • SMTP Login: [your full Gmail address]
    • Password: [paste the generated app password here]
    • From: [your Gmail address]
    • To: [the email address where you want to receive notifications]
  6. Click "Test" to send a test email
  7. If you receive the test email, click "OK" to save the settings

3. Configuring Permissions for Expert Advisors

  1. In MetaTrader 5, go to "Tools" > "Options"
  2. Select the "Expert Advisors" tab
  3. Make sure "Allow automated trading" is checked
  4. Click "OK" to save

Email Setup in MetaTrader 5 (Example with Gmail)

To receive email notifications, you need to correctly configure the email settings in MetaTrader 5. Below is a step-by-step guide with an example for Gmail:

  1. Open MetaTrader 5 and go to Tools > Options.
  2. Select the Email tab.
  3. Fill in the required fields to configure email sending via Gmail:
    • SMTP Server: smtp.gmail.com:465
    • Login: Your Gmail email address (e.g., youremail@gmail.com)
    • Password: The password for your Gmail account. Make sure to enable access for "less secure apps" in your Google account, or use an app-specific password if you have two-factor authentication enabled.
    • From: Your Gmail email address (e.g., youremail@gmail.com)
    • To: Your email address or another account where you want to receive notifications (e.g., youremail@gmail.com or another).
  4. Click Test to verify the configuration. If the configuration is correct, you will see a confirmation message and receive a test email.
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