RSI Alerts – Overbought/Oversold Indicator


This is a very simple but useful indicator that draws visual RSI signals to your chart. You can also use it for to create free RSI alerts whenever a market enters an extreme RSI condition.

How It Works

Whenever the RSI is above the given Overbought threshold the script will draw red arrows above the candles.

Whenever the RSI is below the given Oversold threshold the script will draw green arrows below the candles.

I personally use this on my spare chart monitors that track various market indexes. It is very useful for reducing chart indicator clutter while also being able to tell at a glance if RSI is overbought or oversold.

Settings

RSI Length:
This sets the calculation period for the RSI.

RSI Overbought:
This sets the overbought threshold.

RSI Oversold:
This sets the oversold threshold.

Draw On Candles Yet to Close:
If disabled then the script will not draw signals on the current candle until the candle closes.

Source Code

Last Updated: 21st March, 2019


TradingView Charting Platform

Leave a Comment, Question or Suggestion