RSI candles by soru v.1 plus — Indicator by soru

As requested. Cheers

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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Want to use this script on a chart?

study("RSI candles by soru v.1 plus")
len = input(title="RSI Period", defval=14)
o=rsi(open,len)
h=rsi(high,len)
l=rsi(low,len)
c=rsi(close,len)


//inputs
left = input(title="# bars to the left", type=integer, defval=30)

left_low = lowest(left)
left_high = highest(left)
newlow = low <= left_low
newhigh = high >= left_high

q = barssince(newlow)
w = barssince(newhigh)
col = q < w ?  #8B3A3A : #9CBA7F

plotcandle(o,h,l,c,color=col)
hline(80, color=navy, linestyle=dotted, linewidth=1)
hline(60, color=navy, linestyle=dotted, linewidth=1)
hline(40, color=navy, linestyle=dotted, linewidth=1)
hline(20, color=navy, linestyle=dotted, linewidth=1)

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