This indicator calculates the Relative Strength Index and a smoothed moving average across a selectable fixed timeframe, plotting the values in a separate pane.
Users can customize the timeframe, RSI length, calculation source, moving average smoothing type, and overbought or oversold boundary thresholds. The script displays colored background highlights when the RSI or its signal moving average crosses predefined threshold boundaries. As an indicator, it provides visual market analysis without automated entry, exit, or trade management logic.
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
RSI source
source
close
rsi_src
RSI length
int
14
rsi_len
rsi_ma_type
enum
MaT.sma
rsi_ma_type
rsi_ma_len
int
14
rsi_ma_len
Oversold area color
color
color.new(color.green,50)
oversold_color
Overbought area color
color
color.new(color.red,50)
overbought_color
Enable
bool
true
bg_enable
Show all 21 settings
Setting
Type
Default
Variable
bg_overbought_color
color
color.new(color.orange,90)
bg_overbought_color
bg_oversold_color
color
color.new(color.aqua,90)
bg_oversold_color
Signal line
string
MA
cross_signal_line
cross_high_enable
bool
true
cross_high_enable
cross_high_threshold
int
60
cross_high_threshold
cross_high_bg_color
color
color.new(color.maroon,25)
cross_high_bg_color
cross_low_enable
bool
true
cross_low_enable
cross_low_threshold
int
40
cross_low_threshold
cross_low_bg_color
color
color.new(color.navy,25)
cross_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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