OPEN-SOURCE SCRIPT
RSI Profile
This indicator shows the RSI profile from historical RSI Value and High / Low RSI Pivots.
It is inspired by the Volume Profile which is a common charting study that indicates activity at specified levels. It plots a histogram on the chart meant to identify dominant/significant levels.
This script is profiling RSI levels into a histogram, which can identify the crucial RSI values in the chart. Along with the pivot options that can help identify the dominant pivot points where RSI values had been rebounding historically.
How to use:
There are three profile types available in the settings. When selecting RSI Values, the indicator will count RSI values from history, and plot the count in a histogram at the end of the chart. If you select RSI Pivots High or RSI Pivots Low, the indicator will count only the RSI Pivot Highs and Lows and plot the count in a histogram. Users can select the Pivot Left/Right length from the settings.
Users can extend the POC line to the left, to study how the values had been reacting to POC
Please note: Since the RSi values range from 0 to 100, the indicator is rounding off the values to absolute numbers. This can cause a situation where multiple POC are identified, to find the unique POC, you can increase the width of the histogram.
The Max/Min RSI settings are for visual purposes only, it can help users shrink down the histogram's top and bottom visibility
It is inspired by the Volume Profile which is a common charting study that indicates activity at specified levels. It plots a histogram on the chart meant to identify dominant/significant levels.
This script is profiling RSI levels into a histogram, which can identify the crucial RSI values in the chart. Along with the pivot options that can help identify the dominant pivot points where RSI values had been rebounding historically.
How to use:
There are three profile types available in the settings. When selecting RSI Values, the indicator will count RSI values from history, and plot the count in a histogram at the end of the chart. If you select RSI Pivots High or RSI Pivots Low, the indicator will count only the RSI Pivot Highs and Lows and plot the count in a histogram. Users can select the Pivot Left/Right length from the settings.
Users can extend the POC line to the left, to study how the values had been reacting to POC
Please note: Since the RSi values range from 0 to 100, the indicator is rounding off the values to absolute numbers. This can cause a situation where multiple POC are identified, to find the unique POC, you can increase the width of the histogram.
The Max/Min RSI settings are for visual purposes only, it can help users shrink down the histogram's top and bottom visibility
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 publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.