LonesomeTheBlue

RSI Channel

Hello All. For a while this idea (showing RSI levels on the chart as a channel) was in my mind and finally today I developed the script. I hope it will be usefull for all.



Enjoy!
Release Notes: Added Bull/Bear Zones (by request). This option is disabled by default, you need to enable in the options menu of the indicator.
Release Notes: "EMA Smoothing" added. default value is 1, and if you increase "EMA smoothing" then you get smoothed RSI lines on the chart. Thanks to @hiddenpablo for EMA smoothing idea.
Release Notes: from the updated smoothed version:
Release Notes: updated.
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.

Want to use this script on a chart?