OPEN-SOURCE SCRIPT

Reverse RSI Levels

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Simple reverse RSI calculation

As default RSI values 30-50-70 are calculated into price.
This can be used similar to a bollinger band, but has also multiple other uses.

70 RSI works as overbought/resistance level.
50 RSI works as both support and resistance depending on the trend.
30 RSI works as oversold/support level.

Keep in mind that RSI levels can go extreme, specially in Crypto.
I haven't made it possible to adjust the default levels, but I've added 4 more calculations where you can plot reverse RSI calculations of your desired RSI values.

If you're a RSI geek, you probably use RSI quite often to see how high/low the RSI might go before finding a new support or resistance level. Now you can just put the RSI level into on of the 4 slots in the settings and see where that support/resistance level might be on the chart.

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