Calculates the standard Money Flow Index (MFI) oscillator alongside an exponential moving average signal line in a separate pane. The script visually highlights trend conditions through dynamic ribbon filling, optional difference histogram bars, and overbought
Indicator · Pine Script v6 · Own pane
Rhokeo-VW-RSI Histogram
This indicator plots a volume-weighted RSI as a histogram in a separate pane.
GitHub stars7on the repository
Pine versionv6current
Lines of code125
Settings19inputs
LicenceNone stated
Last update3 months ago24 Jul 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Rhokeo-VW-RSI Histogram weights positive and negative price changes by volume, smooths those values, and scales the result between -1 and +1. Histogram bars change color by zone: strong or weak bull above zero and strong or weak bear below it. Settings change the price source, RSI length, moving-average type and length, and the overbought and oversold shading levels. It does not generate trade entries or exits.
- Volume-weighted gain and loss
- Histogram colored by strength zone
- Configurable RSI moving-average type
- Overbought and oversold shading
- Normalized oscillator range
Details
Published by
eddiebelaval on GitHub
Type
Indicator, Pine Script v6
Draws
Separate pane below the chart
Category
Oscillators & momentum, Volume
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| RSI Price Source | source | ohlc4 | rsi_price |
| RSI Length | int | 9 | rsi_length |
| RSI MA Type | string | EMA | rsi_maTypeInput |
| RSI MA Length | int | 14 | rsi_maLengthInput |
| Overbought Shading Level | float | 0.7 | obLevel |
| Oversold Shading Level | float | -0.7 | osLevel |
| VW-RSI OB Level | float | 0.4 | vwrsi_obLevel |
| VW-RSI OS Level | float | -0.4 | vwrsi_osLevel |
| Above OB (Strong Bull) | color | color.aqua | hist_color_above_ob |
| Above Zero (Weak Bull) | color | color.blue | hist_color_above_zero |
| Below Zero (Weak Bear) | color | color.maroon | hist_color_below_zero |
| Below OS (Strong Bear) | color | color.red | hist_color_below_os |
Show all 19 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Zero Line Bull Color | color | color.new(color.lime, 0) | zeroUpColor |
| Zero Line Bear Color | color | color.new(color.red, 0) | zeroDnColor |
| OB Shading Color | color | color.new(color.red, 85) | ob_shade_color |
| OS Shading Color | color | color.new(color.green, 85) | os_shade_color |
| Ceiling/Floor Color | color | color.new(color.gray, 85) | ceiling_floor_color |
| OB Line Color | color | color.new(color.red, 70) | ob_line_color |
| OS Line Color | color | color.new(color.lime, 70) | os_line_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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