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MrDinasty

RSI Market Structure

MrDinasty  
Trend Analysis Zig Zag Indicator Relative Strength Index (RSI)
1828
38
trendanalysis zigzagindicator relativestrengthindex
This indicator draws swings on the chart based on the RSI configured within.

The swings are drawn from Overbought to Oversold or vice-versa.

Logic:
From Overbought to Oversold, a line is drawn from the highest price before oversold to the lowest price of the oversold.

The labels can be deactivated from the style menu, it was easier for me to implement this way (It's my first indicator)
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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