[RS]RSI Overbought/Oversold Levels V0

EXPERIMENTAL: rsi helper tool to visualize rsi overbought/oversold levels.

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.


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Want to use this script on a chart?
study(title="[RS]RSI Overbought/Oversold Levels V0", shorttitle="[RS]RSIOOL.V0", overlay=true)
overbought = input(70)
oversold = input(30)
length = input(8)
smooth = input(4)

r = sma(rsi(close, length), smooth)

ob = cross(r, overbought) and rising(r, 1) ? close : ob[1]
os = cross(r, oversold) and falling(r, 1) ? close : os[1]
plot(ob, color=maroon, style=linebr, linewidth=2)
plot(os, color=green, style=linebr, linewidth=2)