RSI plots the momentum line in a separate pane alongside customizable dotted horizontal reference lines for overbought and oversold thresholds. Users can adjust the calculation period, moving average length, and threshold levels through input settings. Designed as a standard input for strategy conversion, it provides momentum level visualization without executing trades.
Relative Strength Index momentum calculation
Customizable overbought and oversold levels
Simple moving average filter calculation
Separate pane plot with horizontal reference lines
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
rsiLength
SMA Length
int
200
smaLength
Overbought Level
int
70
overbought
Oversold Level
int
30
oversold
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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