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OPEN-SOURCE SCRIPT

RSI mid partition color change

By fibonacci_wizard
Updated
When RSI is above 50 our default bias is on buy side and when below 50 our bias is on sell side.
Therefore created 2 zones for easy identification.
Release Notes
Version 2:
-> Added color change column strip in RSI indicator on midline cross [default value = false]
-> Added color Change of bar on cross on midline in RSI [default value = false]
Release Notes
Updated
Release Notes
updated
Release Notes
  • Added Neutral Zone in RSI to signifies range bound market.
  • You can tweak the neural zone to meet your instrument sideways condition.
  • You can set value of neutral zone value of both side as 50, if you don't want to see neutral zone.
colorcolourOscillatorsrelativerelativestrengthRelative Strength Index (RSI)rsi-convergencesentiment

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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