Connors RSI Alerts
- Indicators
- Version: 2.0
📊 Connors RSI Advanced Suite for MetaTrader 5
Take your mean-reversion trading to the institutional level with the Connors RSI Advanced Suite. Developed by Larry Connors, this powerful momentum oscillator is designed to identify high-probability entry and exit points by measuring the velocity, duration, and magnitude of price changes.
Unlike the standard RSI, which only looks at price change magnitude, Connors RSI is a robust three-part composite indicator consisting of:
- RSI(3): Short-term price momentum.
- RSI-Streak(2): Measures the duration of consecutive up or down days.
- PercentRank(100): Measures the magnitude of today's price change relative to the last 100 days.
The Aurevia Fx Advanced Suite optimizes this formula for MetaTrader 5 and adds a professional color-coded visualization and a comprehensive, multi-channel alert system to ensure you never miss a setup.
Key Features & Configuration Options
1. Precision Calculation Engine (Connors RSI Parameters)
Customize the sensitivity of the indicator based on your trading style and asset class.
- Price RSI Period (InpRSIPeriod): Sets the lookback period for the standard RSI component that measures price change magnitude. While commonly set to 3, it can be adjusted (e.g., to 5) for slightly smoother signals depending on volatility.
- Streak RSI Period (InpStreakPeriod): Sets the lookback period for the Welles Wilder Smoothing of the "streak" (consecutive up/down closes). The standard is 2, but it can be adjusted to 3 for a less reactive signal.
- PercentRank Period (InpRankPeriod): Defines the lookback period for the Percent Rank calculation, determining how today’s return ranks against history. Standard settings are 100 or 200 days.
2. Dynamic Visuals and Institutional Levels (Levels and Colors)
Quickly identify overbought and oversold conditions with a clean, professional visual interface that plots in a separate indicator window.
- Configurable Thresholds: Set your desired extremes.
- Overbought Level (InpLevelOverbought): Default is 90.0. When the CRSI crosses above this, the asset is considered statistically overbought.
- Oversold Level (InpLevelOversold): Default is 10.0. When the CRSI crosses below this, the asset is considered statistically oversold.
- Color-Coded Line (DRAW_COLOR_LINE): The Connors RSI line changes color automatically based on its position relative to the levels.
- Neutral Color (InpColorLineNeutral): Color when the RSI is between the overbought and oversold thresholds (e.g., Gray).
- Overbought Color (InpColorOverbought): Color when the RSI is above the Overbought level (e.g., Red).
- Oversold Color (InpColorOversold): Color when the RSI is below the Oversold level (e.g., LimeGreen).
- Middle Level (InpColorMiddle): Optional middle line (fixed at 50.0) for visual reference (e.g., DarkGray).
- Precision Control (INDICATOR_DIGITS): The indicator rounds values to 2 decimal places for clean readings.
3. Advanced Alerting System (Alerts)
Never stare at the charts waiting for a mean-reversion setup. Let the indicator notify you the moment an extreme is reached.
- Master Switch: The alerts utilize the MT5 native alert window, but can be individually toggled.
- Notification Methods:
- Sound Alert (InpAlertSound): Plays a specified sound file.
- Pop-up Alert (InpAlertPopup): Standard MetaTrader terminal pop-up box.
- Push Notification (InpAlertPush): Sends an instant message to your mobile device via the MetaTrader App.
- Email Alert (InpAlertEmail): Sends an email to your configured address.
- Custom Sound File (InpSoundFileName): Specify a custom .wav file for sound alerts.
- Intelligent Alert Filtering (InpDelayType & InpAlertDelay): Prevent false positives from momentary spikes.
- Delay in Bars: The alert only triggers if the condition remains true after the current candle closes (e.g., wait for a "1 Bar" delay to confirm the RSI cross).
- Delay in Seconds: Wait a specific number of seconds before triggering the alert.
4. Performance & Utility
Built natively in MQL5 for optimal performance on the MetaTrader 5 platform.
- Optimized Calculation: Efficient code ensures real-time plotting without lagging the terminal, even with large lookback periods.
- Multi-Timeframe Ready: Can be applied to any timeframe chart provided by your broker.
- Automatic Cleanup: Includes an OnDeinit function that cleans up all graphical objects and buffers when the indicator is removed from the chart.
Summary: Why Choose the Connors RSI Advanced Suite?
Larry Connors' research demonstrated that combining these three factors (momentum, duration, and magnitude) creates a superior mean-reversion tool compared to a single Wilder's RSI.
By utilizing the Connors RSI Advanced Suite, you are not just getting a replica of the standard formula; you are getting a professional trading tool with high-definition visualization and an automated notification system that empowers you to trade with statistical edge.
Trade the mean, not the hype. Get the Connors RSI Advanced Suite today.
