OPEN-SOURCE SCRIPT
RSI Status v1
Updated
Simple RSI status indicator that displays GREEN for RSI cross-up of its EMA, and RED for RSI cross-down of its EMA. RSI value is also displayed.
Release Notes
This is a simple textbox display indicator that presents the RSI (Relative Strength Indicator) in a textbox and is color-coded to represent whether it is currently in a bullish signal mode or bearish signal mode.The RSI is a very useful indicator that can be used in several different ways. This simple textbox display of the RSI is only presenting on useful feature: If the 14 SMA (simple moving average) of the RSI is crossed by the RSI to the upside, the textbox turns green. If the RSI crosses below its 14 SMA, it turns red.
Regardless of the bullish/bearish status of the RSI, the display will show the current RSI value.
UPD: Changed the EMA of RSI to SMA.
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.
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