Custom RSI Oscillator with Signals

//version=5
indicator("Custom RSI Oscillator", overlay=false)

// Inputs
length = input.int(14, "RSI Length")
overbought = input.int(70, "Overbought Level")
oversold = input.int(30, "Oversold Level")

// RSI Calculation
rsiValue = ta.rsi(close, length)

// Plot RSI
plot(rsiValue, color=color.blue, linewidth=2, title="RSI")

// Levels
hline(overbought, "Overbought", color=color.red)
hline(oversold, "Oversold", color=color.green)
hline(50, "Midline", color=color.gray)

// Background Highlights
bgcolor(rsiValue > overbought ? color.new(color.red, 85) : na)
bgcolor(rsiValue < oversold ? color.new(color.green, 85) : na)