Easy RSI by nnamWhat Does this Indicator Do?
The Easy RSI Indicator color codes candles based on their RSI Value vs. Open / Close (Red / Green). It plots the current price and current RSI value on the chart in real-time. Additionally, when the RSI Value is in an oversold or overbought condition, it plots that signal on the chart in real-time.
The initial candle color is the standard Red / Green Tradingview color, but a Gradient is added to the color which either darkens or lightens the color based on the RSI Value.
As seen in the screenshot below, the higher the RSI Value, the brighter the Green Color is. The lower the RSI Value, the brighter the Red Color is.
The current Price and current RSI Value are both plotted on the chart by default, but can be optionally switched off by the trader.
As seen in the screenshot below, the prices and RSI Values are easily seen while visually tracking the price in real-time.
RSI Overbought Values are plotted when the Overbought condition is triggered. The Default is RED for Overbought and GREEN for Oversold.
As seen in the screenshot below, with all three labels turned on under the input settings (these are ON by default) you can see the overbought condition, the current RSI Value, and current price all in one centralized area. Oversold Values are also plotted when turned on under the input settings.
As shown in the screenshot below, the candle is GREEN (as evident by the green candle outline) but the RSI Value is low and shows lower than average relative strength. This turns the bar color ORANGE vs, GREEN showing that the relative strength of the move is subpar.
As shown on the screenshot below, if the trader has the standard Tradingview Price label switched on (in the Tradingview Chart Settings), the color of the bar is also translated to the price are for an easy to recognize RSI Value just by looking at the price. Even if the current candle is RED, when the RSI is higher than lower, the color will be green / greenish and even if the current candle is GREEN, when the RSI Value is lower than higher, the color will be red-ish / orange in color giving the user a quick view of RSI Value.
If you have any questions or feature requests for this Indicator please do not hesitate to reach out and ask.
GOOD LUCK trading!!
~nnamdert
RSI-DELTA
Multi Type RSI [Misu]█ This Indicator is based on RSI ( Relative Strength Index ) & multiple type of MA (Moving Average) to show different variations of RSI.
The relative strength index (RSI) is a momentum indicator used in technical analysis to evaluate overvalued or undervalued conditions in the price of that security.
█ Usages:
The purpose of this indicator is to obtain the RSI calculated with different MAs modes instead of the classic RMA.
The red and green zones indicate the oversold and overbought zones.
Buy or sell signals are marked by the green and red circles
We have 2 different signal modes : when the different size RSIs cross and when the fast RSI crosses the extreme bands.
Alerts are setup.
█ Parameters:
Lenght RSI: The lenght of the RSI. (14 by default)
RSI MA Type: The type of MA with which the rsi will be calculated. ("SMA", "EMA", "SMMA (RMA)", "WMA", "VWMA")
Fast Lenght MA: The fast lenght smoothing MA.
Slow Lenght MA: The Slow lenght smoothing MA.
Lower Band: The lenght of the lower band. (25 by default)
Upper Band: The lenght of the upper band. (75 by default)
Signal Type: The mode with which buy and sell signals are triggered. ("Cross 2 Mas", "Cross Ma/Bands")
