Relative Structure Strength Index calculates the Relative Strength Index (RSI) using bar structure power derived from an external library, then smooths the resulting values with a customizable moving average. The script supports multi-timeframe requests and colors the background and plot areas according to configurable bullish, bearish, and sideway market thresholds. It provides visual momentum and structure cues without automated execution rules.
Bar structure relative strength oscillator
Configurable moving average smoothing type and length
Multi-timeframe data fetching
Threshold and sideway market background highlighting
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
► Timeframe
timeframe
tf
Low threshold
float
30
threshold_low_limit
High threshold
float
70
threshold_high_limit
threshold_color_middle_low
color
color.new(color.blue,90)
threshold_color_middle_low
threshold_color_middle_high
color
color.new(color.yellow,90)
threshold_color_middle_high
RSSI length
int
14
rssi_len
rssi_ma_type
enum
ma_lib.MaT.wma
rssi_ma_type
rssi_ma_len
int
9
rssi_ma_len
Bearish area color
color
color.new(color.red,50)
bearish_color
Bullish area color
color
color.new(color.green,50)
bullish_color
Enable
bool
true
bg_enable
Overlay
bool
false
bg_overlay
Show all 20 settings
Setting
Type
Default
Variable
bg_bullish_color
color
color.new(color.aqua,70)
bg_bullish_color
bg_bearish_color
color
color.new(color.orange,70)
bg_bearish_color
sw_high_enable
bool
true
sw_high_enable
sw_high_threshold
int
60
sw_high_threshold
sw_high_bg_color
color
color.new(color.maroon,80)
sw_high_bg_color
sw_low_enable
bool
true
sw_low_enable
sw_low_threshold
int
40
sw_low_threshold
sw_low_bg_color
color
color.new(color.navy,80)
sw_low_bg_color
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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