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RSI & Volume Coloured Bars

saolof Updated   
Relative Strength Index (RSI) Trend Analysis Volume coloredbars aesthetic colorscheme
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relativestrengthindex trendanalysis volumestudies coloredbars aesthetic colorscheme
Candles get darker when volume is high, and brighter when volume is low. They are red or green depending on whether the RSI is above or below a threshold value, or alternatively you can pick a more vanilla coloring based on current close vs last close or last open.


For personal use as I enjoy the aesthetics of it. The more solid RSI coloring helps highlight the brightness variations from changing volume and makes trends crystal clear.


Inspired by "Volume Based Coloured Bars" by KivancOzbilgic:
Volume Based Coloured Bars

and by and by RSI bars chart by taskman9:
RSI bars chart
Release Notes:
Added an "invert" checkbox that lets you invert red/green should you want to.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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