RSI Cross plots the RSI value in a separate pane below the price chart. Long signals trigger when the RSI line crosses above the oversold level of 30, and short signals trigger when the RSI line crosses below the overbought level of 70. Signals are displayed as shapes on the chart and can be used for alerts. The main settings allow adjustment of the RSI length, oversold threshold, and overbought threshold. It serves as a momentum oscillator to identify potential trend changes.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
rsi_length
int
14
len
oversold
float
30
lower
overbought
float
70
upper
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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