RSI 20/80 Arrows + Alerts

RSI 20/80 Arrows + Alerts
This indicator is a modified Relative Strength Index (RSI) tool designed to help traders spot potential overbought and oversold conditions using customizable threshold levels (default 80 for overbought, 20 for oversold).

Features:

Custom RSI Levels – Default to 80/20 instead of the standard 70/30, but fully adjustable by the user.

Visual Signals –

Blue Arrow Up appears below the bar when RSI crosses up from below the oversold level (potential buy zone).

Red Arrow Down appears above the bar when RSI crosses down from above the overbought level (potential sell zone).

Alerts Built In – Receive notifications when either signal occurs, with the option to confirm signals only on bar close for reduced noise.

Guide Levels – Optionally display overbought/oversold reference lines on the chart for quick visual reference.

Overlay Mode – Signals are plotted directly on the price chart, so you don’t need to switch between chart windows.

Use Case:
Ideal for traders who want quick, visual confirmation of potential turning points based on RSI, especially in strategies where more extreme levels (like 20/80) help filter out weaker signals. Works well across all markets and timeframes.