DAVID AKONJANG FROM TIKO CAMEROON 2

vor 7 Stunden

This Pine Script (version 5) is a technical analysis indicator for TradingView, created by "David Akonjang from Tiko, Cameroon." Here's a brief description:

1. **Indicator Settings**:
- The indicator is applied directly on the price chart (`overlay=true`).
- It uses the **Relative Strength Index (RSI)** to generate buy and sell signals.

2. **Inputs**:
- `rsi_length`: The RSI calculation period, which defaults to 14 but can be adjusted by the user.
- `source`: The data source for the RSI calculation, defaulting to the closing price.

3. **RSI Calculation**:
- The RSI is calculated using the `ta.rsi` function with the specified period (`rsi_length`) and data source.

4. **Signal Conditions**:
- **Buy Condition**: A "Buy" signal is triggered when the RSI crosses above 70 (indicating a potential overbought condition being breached).
- **Sell Condition**: A "Sell" signal is triggered when the RSI crosses below 30 (indicating a potential oversold condition being breached).

5. **Plotting Signals**:
- **Buy Signals**: Displayed as green upward labels below the price bars where the buy condition is met.
- **Sell Signals**: Displayed as red downward labels above the price bars where the sell condition is met.

### Key Usage:
- This script helps traders identify potential reversal points based on RSI thresholds (overbought and oversold regions).