OPEN-SOURCE SCRIPT

RSI Trendspotter

업데이트됨
Had a bit of a TA epiphany with RSI so bear with me. The time since RSI was last overbought/sold is a solid trend indicator. This may seem obvious but after x number of years trading it hit me like a smack in the face. I've coded this for easy visualisation. They're fairly simple changes but it's making a big difference in my trendspotting already.

In the example CMG hasn't been overbought for 183 days, so the RSI is mostly green: 스냅샷

Before that it hadn't been oversold for 199 days, so RSI is mostly red: 스냅샷

And before that it was ranging like a maf*ckin' sine wave, so the RSI shows green, red, green, red, etc.: 스냅샷

Finally, normal RSI for comparison. Same data, but now with pretty colours: 스냅샷

I've also added overbought/oversold highlights cause that just makes the whole charting thing a lot easier. Enjoy!
릴리즈 노트
Bugger, I said overbought when I mean oversold and vice-versa
릴리즈 노트
Added plot descriptions so peeps and change colours easily. Thanks to FLOW for the feedback
릴리즈 노트
Fixed an issue with colour and the source. Due to Pine Script limitations it's not possible to make this look the same on a black chart, so you will need to manually adjust the colours when you add it to your chart
colourOscillators

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