REW Signals Advanced RSI

REW Signal

A momentum oscillator for MetaTrader 5 that generates entry signals by detecting crossovers between a Hull Moving Average and a slow weighted MA applied to RSI, with a multi-layer quality filter and a higher-timeframe trend guard.

REW Signal is a sub-window indicator for MetaTrader 5. It plots RSI alongside two smoothing layers — a fast Hull Moving Average and a configurable slow MA — and marks buy and sell signals at the moment their crossover conditions are confirmed. The indicator is designed for traders who want structured entry timing on top of a momentum oscillator, with controls to reduce low-quality signals in ranging or counter-trend conditions.

Overview

The indicator applies RSI to price and then overlays two moving averages on the RSI curve itself. The fast line is a Hull Moving Average, chosen for its reduced lag compared to standard exponential or weighted averages. The slow line is a configurable MA — LWMA by default — that serves as a dynamic baseline. A signal is considered when RSI crosses the slow MA, and the HMA must also confirm the same direction within a configurable bar window.

Two signal modes operate internally. When the HMA was already inside the oversold or overbought zone before the RSI cross, the signal fires immediately without waiting for a separate HMA crossover — this handles fast reversals where both lines move together. When the HMA is in a shallower position, the indicator requires both a RSI cross and an HMA cross within the maximum gap window before marking a signal. An additional slope check on the HMA at the signal bar ensures the fast line is already moving in the expected direction, not just crossing momentarily.

A zone reentry guard prevents repeated signals while RSI remains continuously inside the same extreme zone. Once a buy signal fires, no new buy signal is generated until RSI exits the oversold zone and re-enters it on a fresh move. This reduces signal stacking during extended momentum runs. A separate higher-timeframe trend filter computes an HMA on closed bars from a configurable timeframe and checks its N-bar slope before allowing a signal. Buy signals are blocked when the higher-timeframe HMA is declining; sell signals are blocked when it is rising.

How to Read the Indicator

The sub-window displays four elements. The RSI line in yellow reflects the raw momentum reading. The HMA line in blue is the fast smoothed layer. The slow MA line in red acts as the signal baseline. A shaded fill between the HMA and slow MA changes color depending on which line is above the other, giving a quick visual read of short-term momentum direction.

Buy arrows appear below the RSI level at the bar where a confirmed buy condition is met. Sell arrows appear above the RSI level at the bar where a confirmed sell condition is met. Three horizontal dotted levels mark the oversold zone, the 50 midline, and the overbought zone. The information panel in the top-left corner of the chart window shows current RSI value, HMA value, slow MA value, local trend direction, RSI zone status, and higher-timeframe trend direction. The most recent signal direction and its timestamp are displayed at the bottom of the panel.

Key Features

• Hull MA fast line on RSI: The HMA reduces the smoothing lag inherent in standard MAs. Because it is computed directly on RSI rather than price, it reacts to momentum shifts rather than price shifts, which suits sub-window signal logic.
• Dual signal mode: Deep-zone signals fire when the HMA is already inside an extreme zone at the RSI cross bar. Shallow signals require both RSI and HMA to cross the slow MA within a configurable bar window. This distinction handles both fast reversal spikes and slower momentum turns.
• HMA slope confirmation: An optional check requires the HMA to be rising at a buy bar and falling at a sell bar. This filters crossovers where momentum direction is ambiguous at the moment of the signal.
• Zone reentry guard: After a signal fires, the same direction is blocked until RSI leaves the extreme zone and re-enters on a new cycle. This prevents repeated signals during a single extended oversold or overbought run.
• Higher-timeframe trend filter: An HMA is computed on closed bars from a configurable higher timeframe. Its slope over a configurable number of bars determines trend direction. Signals that oppose the higher-timeframe trend direction are suppressed.
• Non-repainting signal marks: Signals are evaluated on confirmed bars only. Once placed, a signal mark does not change position or disappear on subsequent ticks.
• Popup and push alerts: Optional alerts can be sent as popup dialogs or push notifications to a mobile device when a new signal bar is confirmed.

Recommended Use

The indicator works on any liquid instrument and timeframe. Lower timeframes from M5 to M30 produce more frequent signals and benefit from tighter gap and lookback settings. Higher timeframes from H1 to H4 produce fewer signals with generally cleaner zone conditions. On H1, a trend filter timeframe of H4 or D1 is a practical starting combination.

The indicator is suited for traders who use RSI-based timing and want a structured confirmation layer rather than acting on raw RSI levels alone. It can be used as a standalone entry reference or as a timing component alongside a higher-level directional analysis. Combining the signal output with support and resistance levels or session filters is a common approach for reducing false signals during low-momentum periods.

Parameters

RSI Settings:

• RSI period — Number of bars for RSI calculation — Default: 10
• RSI price source — Price type applied to RSI (Close, Open, High, Low, HL2, HLC3) — Default: Close
• Oversold threshold — RSI level below which the market is considered oversold — Default: 30
• Overbought threshold — RSI level above which the market is considered overbought — Default: 70
• Require RSI zone before signal — When enabled, a signal is only generated if RSI touched the oversold or overbought zone within the lookback window before the cross — Default: true

HMA Fast Line:

• HMA period — Period of the Hull Moving Average applied to RSI — Default: 9
• HMA display shift — Bar offset for visual display of the HMA line (0 = no shift) — Default: 1

Slow MA Line:

• Slow MA period — Period of the slow baseline MA applied to RSI — Default: 45
• Slow MA method — MA type for the baseline (LWMA recommended) — Default: LWMA

Signal Settings:

• Maximum cross gap — Maximum number of bars allowed between RSI cross and HMA cross for a shallow signal to be valid — Default: 3
• Zone lookback bars — Number of bars to look back for an oversold or overbought touch before the cross — Default: 15

Entry Quality:

• Require HMA slope — When enabled, the HMA must be rising at a buy bar and falling at a sell bar — Default: true
• Zone reentry guard — When enabled, a new signal in the same direction is blocked if RSI has not exited the extreme zone since the previous signal — Default: true

Trend Filter:

• Enable trend filter — When enabled, signals that oppose the higher-timeframe trend are suppressed — Default: true
• Trend filter timeframe — Timeframe used to compute the trend HMA (must be equal to or higher than the chart timeframe) — Default: H4
• Trend HMA period — Period of the HMA used for trend direction on the higher timeframe — Default: 55
• Trend slope measurement bars — Number of bars used to measure the HMA slope; higher values produce a smoother trend read — Default: 3

History and Display:

• Historical bars to scan — Number of bars to scan for signals on the first load — Default: 200
• Show information panel — Display the data panel in the top-left corner of the chart — Default: true

Alerts:

• Popup alert — Send a popup dialog when a new signal bar is confirmed — Default: false
• Push notification — Send a push notification to a mobile device when a new signal bar is confirmed — Default: false

Past signal marks shown in the sub-window reflect conditions that were valid at the time each bar closed. As with all technical indicators, signal quality depends on market conditions and the parameter configuration in use. No signal tool eliminates the need for risk management.