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OPEN-SOURCE SCRIPT

Relative Strength Index w/ 3 Levels & 0 Line Colour (by WJ)

By Tutorial05
Updated
NOTE:
// RSI CODE TAKEN FROM DEFAULT INDICATOR
// I HAVE ONLY MADE SOME ADJUSTMENTS FOR VISUAL AID
// I MADE THIS FOR MY OWN USE BUT HAVE DECIDED TO PUBLISH AND SHARE IN CASE ANYBODY WANTS TO USE IT

This is the normal default built-in RSI indicator which I have added some stuff for visual aid:
  • Added middle line (50)
  • RSI turns green when crossed above 50
  • RSI turns red when crossed below 50


  • RSI background turns green and red on crossover candle based on whether RSI just crossed over or below 50 respectively
  • Alert notification on the crossover candle
Release Notes
Shifted comments in code
Release Notes
Fixed 0 Line to 50 Line text
Release Notes
Added SMA in RSI
Release Notes
Changed default settings for SMA on RSI from 227 to 88 as it works better personally
Release Notes
- Changed some default colours and added a 90/10 OB/OS alert
Release Notes
- Issue of Upper and Lower Bands changed limits not affecting RSI colour change should be fixed
- Alerts for mid line crossover and OB/OS levels should be dynamic now
Release Notes
- Changed RSI back to 14 as default value
- Added 2 more bands because I need them :d
Release Notes
- Removed extra bands
- Added MA choices and ability to turn it off
Release Notes
Updated some stuff
50linealertRelative Strength Index (RSI)

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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