Reverse RSI Phantom MT5
- Indicators
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Kestutis Balciunas
With over 16 years of active experience in financial markets, I specialize in developing high-performance forex trading strategies, technical indicators, and automated Expert Advisors for MT4/MT5. My work spans precision-engineered trading systems designed for accuracy, consistency, and real-world - Version: 1.0
- Activations: 20
Reverse RSI Phantom is a non-repainting reversal-and-continuation indicator for MetaTrader 5 that solves a problem every RSI trader runs into: the default RSI lives in a separate window, so you can never see the overbought and oversold levels in the same visual space as the candles. Reverse RSI Phantom inverts the RSI equation to compute the exact price the market would need to print for RSI to equal 70, 50, or 30, and then plots those values as live price-level bands on the main chart. On top of those bands sits a five-layer confluence engine, a state-machine Supertrend trend filter applied to the RSI=50 midline, a pivot-based divergence detector, and a complete risk-management system that draws SL plus three TP levels (1R, 2R, 3R) on every confirmed signal. A multi-section dashboard reports live state for every component, and a full alert package covers every event the indicator detects.
Check MT4 version at: Reverse RSI Phantom MT4
See more products at: All Products
Check MT4 version at: Reverse RSI Phantom MT4
See more products at: All Products
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How It Works
Price-Level Inversion Engine
The standard RSI formula maps recent up-move and down-move averages into a 0–100 oscillator. Reverse RSI Phantom solves that equation backwards. Given a target RSI level (default 70 for overbought, 30 for oversold, 50 for midline), it computes the exact price increment that would produce that RSI value on the next bar, using the previous bar's RMA averages for up-moves and down-moves. The result is three running price levels: an upper band where RSI would equal 70, a lower band where RSI would equal 30, and a midline where RSI would equal 50. An optional EMA smooth (default 14 periods) damps the bands so they track price calmly rather than jittering on every tick.
Supertrend Trend Filter on the Midline
Rather than running Supertrend on price (which is noisy), Reverse RSI Phantom runs it on the RSI=50 midline itself, using a custom ATR computed from the midline's own highest/lowest range. This produces a momentum-based regime indicator that flips between bullish and bearish only when the underlying RSI structure actually shifts. The midline is colored mint when the regime is bullish and red when bearish, giving an immediate visual cue at any zoom level.
Five-Layer Confluence Scoring
Every raw trigger (trend shift, band cross, or divergence) is scored against five independent confluence layers before a BUY or SELL signal is drawn:
- Trend Regime — current Supertrend direction must agree with the trade direction
- RSI Confirmation — RSI crossed up through 30 (or > 50) for buys; crossed down through 70 (or < 50) for sells
- Band Retest — price touched the OB or OS band within the last 8 bars
- Divergence — regular bullish or bearish RSI divergence is active
- Volume Burst — current bar volume is at least 1.0× the 20-bar volume SMA
Each passing layer adds one point to the confluence score (0–5). A minimum score input (default 2) determines how strict the indicator is before drawing a signal. Each signal is labeled with star indicators showing how many layers passed (e.g., "* 3" for a 3-of-5 setup).
Automatic Risk Management — SL + 3 TP Levels
When a signal fires, the indicator immediately calculates a stop-loss and three take-profit targets and draws them as horizontal lines extending forward across the chart. The SL has three computation modes selectable from inputs: ATR + Band (the tighter of an ATR-distance SL and a band-anchored SL), Pure ATR (entry plus or minus ATR × multiplier), or Recent Swing (most recent 10-bar high/low plus ATR cushion). The three TP levels are then computed at 1R, 2R, and 3R risk-reward multiples by default — each ratio is fully configurable. Every level has a labeled price tag on the right side of the chart, and the dashboard tracks live hits with checkmarks.
Non-Repainting Signal Engine
All signals are evaluated on confirmed, closed bars only. The signal at bar N never changes after bar N+1 opens. The historical replay drawn at indicator load is identical to the signals that fired in real time. Alert messages are suppressed during the initial historical replay so attaching the indicator does not flood your terminal.
Multi-Section Dashboard
A pixel-anchored dashboard reports live state across five sections: Market Context (trend regime, price-vs-midline, ATR and ATR%), RSI Engine (RSI value and state, current OB/OS band prices, divergence flag, volume burst), Confluence (live buy and sell scores with star rendering, the minimum-required threshold), Active Signal (direction, bars-ago, entry price, SL with percentage distance, TP1/TP2/TP3 with progress checkmarks), and Performance (running W/L count, total signals fired, TP hits, SL hits). The dashboard position, column width, font size, and X/Y offsets are all configurable inputs.
Key Features
- Overbought, oversold, and midline RSI levels plotted as live price-level bands
- Non-repainting signal engine — fires only on confirmed bar close
- 5-layer confluence scoring with on-chart star indicators
- ATR-based stop-loss with three computation modes (ATR + Band, Pure ATR, Recent Swing)
- Three take-profit levels at configurable risk-reward multiples (default 1R / 2R / 3R)
- Pivot-based regular RSI divergence detection
- State-machine Supertrend trend filter applied to the RSI=50 midline
- Volume burst confirmation (current bar versus 20-bar SMA)
- Configurable signal cooldown to prevent rapid duplicate signals
- Multi-section dashboard with live state, percentages, and TP/SL hit tracking
- 13 alert types: BUY, SELL, Any Signal, Bullish/Bearish Trend Shift, Bullish/Bearish Divergence, Upper/Lower Band Entry, TP1/TP2/TP3 Hit, SL Hit
- Pop-up, push notification, and email alert channels
- ASCII-only chart labels for full platform/font compatibility
- Works on every symbol and every timeframe
- Available for both MT4 and MT5 with identical visual and logical behavior
Best Markets and Timeframes
Reverse RSI Phantom works on every symbol type — forex majors, exotics, indices, commodities (gold, silver, oil), individual stocks, and crypto pairs — and on every timeframe from M1 to MN1. Higher timeframes (H1 and above) produce fewer, higher-quality signals; lower timeframes generate more frequent setups. The minimum-confluence input lets you tune signal frequency directly: set it to 2 on H1 majors for a balanced setup count, or to 4 on M5 if you need only the strongest setups.
Complete User Guide & Trading Manual
