MTI Stochastic RSI with Color Bars and Zones
Plots the %D line of a Stochastic Oscillator calculated from the RSI of close of length 14.
Red Sell Zone above 80, candles paint red
Green Buy Zone below 20, candles paint green
Red Sell Zone above 80, candles paint red
Green Buy Zone below 20, candles paint green
study(title="MTI Stochastic RSI", shorttitle="MTI Stoch RSI Color Zones") //Inputs src = input(close, title="RSI Source") lengthRSI = input(14,title="RSI Length", minval=1) smoothK = input(8,title="%K", minval=1) smoothD = input(5,title="%D", minval=1) Overbought=input(80) Oversold=input(20) //RSI Calculation rsi1 = rsi(src, lengthRSI) //StochRSI Calculation k=100*(rsi1-lowest(rsi1,smoothK))/(highest(rsi1,smoothK)-lowest(rsi1,smoothK)) d=sma(k, smoothD) //StochRSI Plot //plot(k,title="%K",color=red) plot(d, title="%D", color=blue) //Buy and Sell zones h0 = hline(Overbought,title="Overbought",color=red,linestyle=solid) h1 = hline(Oversold,title="Oversold",color=lime,linestyle=solid) h2=hline(100,color=black) h3=hline(0,color=black) fill(h2,h0, color=red, transp=80) fill(h3,h1, color=lime, transp=80) //Bar Color SellZone()=> d>=Overbought BuyZone()=> d<=Oversold barcolor(BuyZone() ? lime : SellZone() ? red : na)