A Nicer, Cleaner Version of RSI
In this image, you can see how the color of the RSI line actually changes based on its level.
Generally, we consider a level of 70 or higher to be overbought and a level of 30 or lower to be oversold.
If the RSI value is overbought, it will show up as a red line
If the RSI value is oversold, it will show up as a green line.
You can also adjust these levels if say, you wanted to set the overbought level at 80 instead of 70.
We have also included a mid level at 50.
Many traders will use this as well to gauge the start of a new possible trend.
The line will turn orange if it's above this mid level and blue if it's below. You can also adjust the colors for each as well.
Another super powerful feature of this indicator is you can receive alerts each time RSI crosses above or below each of these levels.
So if I wanted to receive an alert when RSI crosses above 70, I can easily do that!
Generally, we consider a level of 70 or higher to be overbought and a level of 30 or lower to be oversold.
If the RSI value is overbought, it will show up as a red line
If the RSI value is oversold, it will show up as a green line.
You can also adjust these levels if say, you wanted to set the overbought level at 80 instead of 70.
We have also included a mid level at 50.
Many traders will use this as well to gauge the start of a new possible trend.
The line will turn orange if it's above this mid level and blue if it's below. You can also adjust the colors for each as well.
Another super powerful feature of this indicator is you can receive alerts each time RSI crosses above or below each of these levels.
So if I wanted to receive an alert when RSI crosses above 70, I can easily do that!
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