OPEN-SOURCE SCRIPT

30-70 RSI Strategy with Colored Bar

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This script colors price bars based on Relative Strength Index (RSI) levels, giving traders a quick and visual way to assess overbought or oversold market conditions directly on the chart.

📈 Key Features:
✅ RSI-Based Bar Coloring:

Green bars when RSI is above the upper threshold (default 70) – suggests bullish momentum.

Red bars when RSI is below the lower threshold (default 30) – indicates bearish pressure.

Bars remain uncolored when RSI is between thresholds – a neutral zone.

🔧 Customizable RSI Settings:

Adjustable RSI length (default: 14 periods)

Adjustable overbought/oversold levels (default: 70/30)

🧠 Helps traders:

Quickly spot potential reversals or trend continuations

Visually align price action with momentum

🛠️ Usage:
Ideal for trend-following, reversal, and momentum strategies.

Works across any timeframe (1m, 5m, 1h, daily, etc.).

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.