Indicator · Pine Script v4 · On the chart

RSI - MACD Background Indicator

by davro

This indicator overlays background and color signals on the price chart based on Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) conditions.

View on GitHub

GitHub stars10on the repository
Pine versionv4older, still runs
Lines of code209
Settings2inputs
LicenceNone stated
Last update5 years ago13 Jul 2021

Add It to Your TradingView Chart

  1. 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
  2. 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
  3. 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
  4. 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.

Details

Published by

davro on GitHub

Type

Indicator, Pine Script v4

Draws

On the price chart

Category

Oscillators & momentum, Moving averages

Markets

Crypto, Stocks

Timeframes

M1-M5, M15-H1, H4 and above

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.

SettingTypeDefaultVariable
Use below RSIboolfalseuserRsi
RSI Lengthint30rsiLength
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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