Updated MA_RSI w/ 3 MA — Indicator by OrhanKaplan

I updated RicardoSantos' MA RSI V0. I added two more moving averages and changed the background color&style.

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="MARSI3", shorttitle="3MA RSI", overlay=false)

basis = rsi(close, input(14))

ma1 = sma(basis, input(3))
ma2 = sma(basis, input(15))
ma3 = sma(basis, input(30))
ma4 = ema(basis, input(100))

oversold = input(30)
overbought = input(70)

plot(ma1, title="RSI MA1", style = area, color=purple, linewidth = 2)
plot(ma2, title="RSI MA2", color=maroon, linewidth = 2)
plot(ma3, title="RSI MA3", color=black, linewidth = 3)
plot(ma4, title="RSI MA3", color=navy, linewidth = 4)

obhist = ma1 >= overbought ? ma1 : overbought
oshist = ma1 <= oversold ? ma1 : oversold

plot(obhist, title="Overbought Highligth", style=area, color=red, histbase=overbought)
plot(oshist, title="Oversold Highligth", style=area, color=green, histbase=oversold)

i1 = hline(oversold, title="Oversold Level", color=purple)
i2 = hline(overbought, title="Overbought Level", color=purple)
fill(i1, i2, color=gray, transp=70)

hline(50, title="50 Level", color=black)