RSI Shift Zone MT4 Scanner

RSI Shift Zone Scanner identifies moments when market sentiment may change by linking RSI signals with price action. Whenever the RSI moves above or below preset levels (default 70 for overbought, 30 for oversold), the indicator draws a channel directly on the chart. These channels mark areas where sentiment likely turned and can be observed as potential support or resistance.

• When the RSI crosses an upper or lower level, a new channel appears.

• The channel’s boundaries are fixed to the high and low of the crossing candle, with a mid-line showing their average for quick reference.

• Each channel stays visible for at least a user-defined number of bars (default 15), so only notable shifts remain on screen.

• Colours indicate bullish or bearish context

• Standard RSI calculation (default length 14).

• Detects crossovers above the upper level and crossunders below the lower level.

• Channels are drawn on the main chart, providing a clear historical map of previous sentiment changes.

• A zone disappears once the minimum bar count is met and a new shift forms.

Practical use

Traders often treat channel boundaries as dynamic reference lines:

• Use signals to refer to price action.

• Use the mid-line as a balance point during pullbacks.

• Use Scanner to capture recent price action on other charts

Summary

RSI Shift Zone Scanner converts basic RSI threshold events into visual structures on the price chart, allowing traders to monitor where momentum-driven turns have occurred and to incorporate those areas into their analysis of support, resistance, breakouts or reversals.