Bullyena's RSI BarColor Overlay

24. Nov. 2019

This script can identify the price trend by overlaying colors as based on an algorithm using RSI and MA.

Disclaimer: This should be effective on higher timeframes.
This also works best with my RSI + StochRSI indicator.

Red = short zone
Orange = chop zone
Blue = long zone

Strategy:
Blue = you can HODL until the trend changes
Orange = good for scalping ranges
Red = just for shorting and longing would be risky

How to enable indicator with the best settings:
A. If using candlestick chart type, make sure to disable the border color in the chart settings.
B. For optimal usage, use the bar chart type.

5. Dez. 2019

Versionshinweise

Changelog:
Updated the colors

How to use:
1. Install the indicator by clicking on favorites and adding it on your chart.
2. Go to your chart settings/properties by clicking on the background of your chart. Then make sure to DISABLE 'BORDER' if using candlesticks.
3. There you have it

5. Dez. 2019

Versionshinweise

Minor fixes