MattDeLong

RSI Oversold/Undersold

The study script will place GREEN BUY arrows BELOW oversold conditions and RED SHORT arrows ABOVE overbought conditions. You can configure the period

Most RSI (14) indicators use a 14-period, I prefer a 5-period. The period, overbought and oversold periods are settings that can easily be changed by adding this study to your chart and clicking the "gear" icon next to the study inside your chart.
Remove from Favorite Scripts Add to Favorite Scripts
//@version=2
//author=https://www.tradingview.com/u/MattDeLong/
//optimized for NUGT / daily chart

study("RSI Oversold/Undersold", overlay=true)

backtime = input(title='Period', type=integer, defval=5)
overbought = input(title='RSI Overbought', type=integer, defval=74)
oversold = input(title='RSI Oversold', type=integer, defval=24)

calcSpread(k) =>
    ((high[k] - low[k]) / high[k])*100

isOversold(k) =>
    key = k <= 1 ? 0 : k - 1
    rsi(close[k], backtime) <= oversold and volume[k] >= volume[key]

isOverbought(k) =>
    key = k <= 1 ? 0 : k - 1
    rsi(close[k], backtime) >= overbought and volume[k] >= volume[key]

plotshape(isOverbought(1) and isOverbought(0), style=shape.labeldown, location=location.abovebar, color=#ff0000)
plotshape(isOversold(1) and isOversold(0), style=shape.labelup, location=location.belowbar, color=green)
Very cool!!!
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out