RSI With Trend Color

RSI > 50 = Bullish (rsi color green)
RSI < 50 = Bearish (rsi color red)

Release Notes

add yellow color to show overbought and oversold condition

Release Notes

//version=3
study(title="Relative Strength Index", shorttitle="RSI")
src = close, len = input(14, minval=1, title="Length")
up = rma(max(change(src), 0), len)
down = rma(-min(change(src), 0), len)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down))
plotcolor1 = iff(rsi[1] > 50, lime, red)
plotcolor2 = iff((rsi[1] > 70 or rsi < 30), yellow, plotcolor1)
plot(rsi, linewidth=1, color=plotcolor1, transp=0)
plot(rsi, linewidth=1, color=plotcolor2, transp=0)
band1 = hline(70)
band0 = hline(50)
band2 = hline(30)
fill(band1, band0, color=green, transp=90)
fill(band0, band2, color=red, transp=90)

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mahameru

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Protected script

This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.

mahameru

Also on: