OPEN-SOURCE SCRIPT
RSI Positivity (Zone and Change)
Mostly a test project developed with Grok.
We calculate the RSI and look back a configurable amount of bars to determine the percentages of bars where:
a) RSI was above 50% (Label: Zone)
b) RSI changed positively (Label: Change)
The RSI can be shown or hidden and RSI length can be chosen (hidden by default with RSI length 14).
Smoothing can be enabled or disabled (enabed by default with smoothing set to 10 bars).
There are vertical lines in the Zone plot that indicate how far we are looking back.
We calculate the RSI and look back a configurable amount of bars to determine the percentages of bars where:
a) RSI was above 50% (Label: Zone)
b) RSI changed positively (Label: Change)
The RSI can be shown or hidden and RSI length can be chosen (hidden by default with RSI length 14).
Smoothing can be enabled or disabled (enabed by default with smoothing set to 10 bars).
There are vertical lines in the Zone plot that indicate how far we are looking back.
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 publication is governed by House rules. You can favorite it to use it on a chart.
Want to use this script 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.