RSI Levels On Chart [MisterMoTA]

2024년 1월 16일

The values of the RSI Levels On Chart are calculated using Reverse Engineering RSI calculations by Giorgos Siligardos, Ph.D.

Instead of using only the 50 line of the RSI on chart I added options for users to define the Extreme Overbought and Oversold values, also simple Oversold and Overbought values, start of Bullish and Bearish zones and the 50 rsi value.

With the RSI Levels On Chart users are able to see on chart the price that a candles need to close for a certain value of the RSI. E.g. what price is needed for the RSI to be at oversold 30 or what would be the price when rsi will cross the 50 line.

The script has the 50 line color coded that will turn red when the line falling and will change to the user input color when it will be rising, helping users to see fast the clear trend of any asset on any timeframe from 1 second to 12 months.

I added few alerts for rsi overbought, oversold, extreme overbought and extreme oversold, crossing 50 level, crossing bullish or bearish zones values and also alerts for the 50 line falling or rising.

You can use RSI Levels On Chart as a simple indicator or you can add your favorite oscilator(s) to have a clear view of the trends of the markets, in this demo I added RSI + Divergences + Alerts [MisterMoTA] with a moving average set to 50 RMA.

2024년 1월 16일

릴리즈 노트

Updated the chart to not display the second indicator on publishing window of the script

2024년 8월 6일

릴리즈 노트

• removed decimals variable, so now the script wiill diplay the price with decimals auto by ticker decimals, no need to change on each asset the number of decimals anymore
  

6월 13일

릴리즈 노트

• I removed all the indicators inputs and values from the status line to improve chart visibility
  
• Upgraded the code to version 6 of pine script