DRodriguezFX

Bars Since the last RSI Extreme

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This is something Jamie Saettele pointed out. Gold             has been in 'neutral' RSI territory for its longest stretch in four years. It's coiling up for its next major move.
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study("Bars Since the last RSI Extreme")
rsivalue = rsi(close, input(14, "RSI Period"))
rsiextremevaluelow = input(30, "Define Oversold")
rsiextremevaluehigh = input(70, "Define Overbought")
rsiextreme = (rsivalue >= rsiextremevaluehigh) or (rsivalue <= rsiextremevaluelow)

plot(series=barssince(rsiextreme), title="Bars Since the last RSI Extreme", color=blue, style=histogram, linewidth=2)

//Credit for this indicator goes to Jamie Saettele
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