RSI+ Overbought/Sold Indicator

25 באוג׳ 2017

This is a very simple script that plots signals on the chart whenever the RSI crosses the given threshold. Nothing fancy, but it is useful for deciding when to exit trades or prepare for pullbacks or for confirming that the market is currently in the middle of an extremely impulsive move or trend. It has alert functionality and you can set the overbought/sold thresholds and RSI length in the options menu.

Note: I definitely wouldn't recommend using it to enter trades unless you're an experienced counter-trend trader :)

Regards -
Matt.

2 בנוב׳ 2017

הערות שחרור

Removed text labels to make indicator more subtle. Very useful as a background confirmation tool against support & resistance for counter-trend opportunities or for gauging momentum during over-extended pullbacks for trend-continuation opportunities.

2 בנוב׳ 2017

הערות שחרור

-

17 בפבר׳ 2019

הערות שחרור

Minor improvements

1 בפבר׳ 2022

הערות שחרור

Updated to Pine Script v5