This script allows to color price bar in function of relative strenght index (RSI) values above or belove a certain level. It's alert capable to send messages or emails at given condition.
- Trend detector (eg. green bars -> bullish trend ) - Filter, in combinations with other techniques (eg. green bars, only long) - Signal: (eg. green bar -> buy long)
The indicator is fully costumizable, i.e. you can adjust RSI period and dource plus change RSI levels for example to visualize overbought and oversold condition. (In the example below, 7 Period RSI and 70,30 levels are choosen)