Multi-Timeframe RSI Price Level Indicator for MT5 — Free Download

This Is Not a Standard RSI Indicator

Standard RSI indicators show you a line. They tell you RSI is at 34.7 or 72.1. They leave you to figure out what price levels correspond to oversold or overbought conditions. This indicator does the opposite — it shows you the exact prices on your chart where RSI will hit 80, 75, 25, and 20 across four timeframes simultaneously. Think of it as an RSI-to-price translator.

How It Works — Dual Analysis Engine

Method A — Historical Price Clustering

The indicator scans 300 closed bars (configurable) on each timeframe independently — M15, M30, H1, H4. Every time RSI(22) crosses a threshold — dropping below 25, pushing above 80 — it records the closing price. These prices are clustered using ATR-normalized tolerance. The best cluster is selected via a 4-component composite score: 35% frequency (how many crossing episodes), 30% recency (how recently they occurred), 20% tightness (price dispersion), and 15% distance from current market. Output: a representative price, cluster bounds, occurrence count, and relevance score.

Method B — Wilder RSI Forward Projection (Unique Feature)

This is what separates this indicator from every other RSI tool. The indicator implements its own Wilder RSI calculation to access the smoothing state (avgGain and avgLoss) that MT5's built-in iRSI function keeps hidden. Using this state from the last closed bar, it runs a binary search solver: "What future close price makes RSI exactly equal to 80?" The solver converges monotonically because RSI is strictly monotonic in the hypothetical close. Safety limits prevent projection beyond 8 ATR units. Maximum 60 iterations. Tolerance 0.05 RSI units.

7-Component Confluence Scoring Engine

Once all four timeframes produce their historical and estimated levels for each target (Buy 25, Buy 20, Sell 75, Sell 80), the confluence engine combines everything into a single 0-100 score. Seven independently weighted components determine the final score:

• TF Agreement (25%): How many of the 4 timeframes point to the same price region
• Historical Strength (15%): Crossing frequency weighted by timeframe importance
• Clustering Tightness (15%): Price dispersion within the cluster relative to tolerance
• Hist/Est Agreement (15%): Distance between historical and estimated projection centers
• Higher-TF Weight (15%): H1 and H4 contribution share (higher TFs carry more weight)
• Distance Band (10%): How far the level is from current market price
• RSI Extremeness (5%): Proximity of current RSI to the target threshold

Final score labels: WEAK (≤30) → MODERATE (≤50) → GOOD (≤70) → STRONG (≤85) → VERY STRONG (>85)

On-Chart Visualization

Historical levels: solid lines with labels showing timeframe, RSI threshold, price, and occurrence count. Estimated levels: dashed lines with "(PAST)" marker if current RSI already crossed the threshold. Confluence zones: gold dash-dot lines with semi-transparent rectangles (green = buy zone, red = sell zone). Per-timeframe zone rectangles (optional). Invalid-side levels automatically render as dotted grey.

Dashboard + Live Market State

The on-chart dashboard displays: per-timeframe table with closed RSI, live RSI (updates every tick via ForwardRSI), and estimated price levels with validity markers (A/B = valid above/below, N = near current price, I = invalid side, P = already past). Confluence section: HIST range, EST center, ZONE bounds, SCORE, AGREEMENT count, DISTANCE from market in points/pips/%. Market state (weighted MTF RSI), overall bias (buy/sell/mixed), and strongest buy/sell zones with scores.

Pair It with Daily Range Backtest

This indicator tells you WHERE to place limit orders (exact RSI-based price levels). The Daily Range Backtest indicator tells you HOW LIKELY those orders are to fill and hit TP — using causal walk-forward validation with H1+H4 bar-by-bar simulation. Together, they form a complete trade planning system.

Quick FAQ

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