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SP_Relative Strength Index

Quick Update to the Steve Primo RSI .

Nothing fancy, but one indicator to represent all his RSI based setups.

Primarily used on Strategy #1 and #8.

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study(title="SP_Relative Strength Index", shorttitle="SP-RSI")
up = rma(max(change(close), 0), 5)
down = rma(-min(change(close), 0), 5)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down))
plot(rsi, color=black, linewidth = 3, title = "Steve Primo - RSI")

h0 = hline(50, color = blue, title = "Strategy #8 - Threshold Line")
h1 = hline(35, color = green, title = "Strategy #1 - Over Sold")
h2 = hline(25, color = green, title = "Strategy #1 - Over Sold")
h3 = hline(65, color = red, title = "Strategy #1 - Over Bought")
h4 = hline(75, color = red, title = "Strategy #1 - Over Bought")

fill (h1, h2, color = green, title = "Strategy #1 - Oversold Level")
fill (h3, h4, color = red, title = "Strategy #1 - Overbought Level")
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