SR RSI by Tradingcoach.dk

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📊 Script Name: SR RSI by Tradingcoachdk

🛠️ Purpose:

This custom RSI indicator is designed to highlight bullish trading opportunities using a clean and simple color-based RSI display. It’s optimized for users who want to quickly assess momentum shifts using a threshold value – without background gradients or visual noise.

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🔍 Key Features:
• Custom RSI calculation:
The script calculates the Relative Strength Index (RSI) manually based on a selected input source and length.
• Color-based RSI visualization:
The RSI line changes color based on whether it is above or below a user-defined threshold (default: 35):
• Above threshold = black
• Below threshold = green
This helps traders visually identify when RSI enters a discounted momentum zone.
• Clean layout – no distractions:
• No background fill between overbought/oversold zones
• No gradient fills
• Only the RSI line and static reference lines at 70 (overbought), 50 (midline), and 30 (oversold)
• User Inputs:
• RSI Length
• Source (e.g. close)
• Threshold value
• Color for above/below threshold
• Option to enable divergence detection (placeholder, not used in current script logic)

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⚙️ Use Case:

This script is ideal for traders who want a minimalistic RSI tool to:
• Identify discount momentum zones (e.g., RSI < 35)
• Maintain chart clarity
• Avoid visual overload from gradients and backgrounds

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Note di rilascio

Chart updated