This indicator overlays background and color signals on the price chart based on Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) conditions.
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
RSI - MACD Background Indicator calculates RSI alongside a high-based MACD line and defines timeframe-specific overbought, oversold, and overextended threshold levels across minute, daily, weekly, and monthly periods. Users can toggle manual RSI length settings or rely on built-in timeframe defaults.
Timeframe-adaptive RSI overbought and oversold levels
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Use below RSI
bool
false
userRsi
RSI Length
int
30
rsiLength
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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