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RSI_Trading_Concepts

RSI Chart Levels

RSI_Trading_Concepts  
Oscillators Relative Strength Index (RSI) Support and Resistance rsi_divergence supportandresistancezones
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oscillator relativestrengthindex supportandresistance rsi_divergence supportandresistancezones
The RSI Chart Levels shows you in a simple way where Support/Resistance might be. You want to make sure all settings are the same in the RSI that you are using with this overlay to be accurate.

This is also good at spotting divergence in real-time. If price goes over the Higher High but the RSI hasn't gained a new Higher High it is showing divergence, vice versa for Lower Low.

This overlay was created with the idea of RSI Divergence Scanner by zdmre indicator. Add his RSI and match the settings to the chart overlay. The default Zigzag is set to 7 which zdmre settings is different so change to whatever you prefer.

Shoutout to zdmre original work!
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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