Custom RSI with Colors

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How to Use

1. Copy the script and paste it into the Pine Script Editor on TradingView.
   
2. Save and click "Add to Chart."
   
3. Adjust the parameters:
   

• RSI Length: Change the calculation length.
  
• RSI Method: Select between SMA and EMA for smoothing.
  
• Levels and Colors: Define your four RSI thresholds and their corresponding colors.
  
• Custom Timeframe: Specify a timeframe (e.g., 1D, 4H) or leave it blank to use the chart’s timeframe.
  

Explanation:

• The RSI is calculated using the specified smoothing method.
  
• Based on user-defined levels, the RSI line changes color dynamically.
  
• Horizontal lines mark the levels for better visual reference.