How can I make this RSI WL Column have a Moving Average?


Active member
I have a 2 min RSI Watchlist Column that I use as part of my criteria for a good scalp setup. Right now, the way it stands, it'll declare whether the RSI is Rising or Falling.

Since its a 2 minute time frame, obviously the "Rising" and "Falling" parameters are met quite frequently and thus change from Rising to Falling or vice versa, often.

I want to know what the trend of the RSI is, in another words, has it been rising or falling over the last 3 bars, or so. I tried adding a moving average and then trying to determine if the current RSI value is above or below that but I'm not sure if this is the best way of accomplishing what I needed. I just want to know the current trend of RSI and not necessarily whether its rising or falling in that exact moment, but whether it has been rising or falling over a "X" amount of bars.

Here is the script I was working with:
Thanks for any help, very much appreciated!

# RSI Label
# cabe1332

# Note: You can modify the inputs

# start code

input overbought = 80;
input oversold = 20;
input rsilength = 14;
def rsi = reference RSI(length = rsilength)."RSI";

if rsi < oversold then "RSI Oversold: " + round(rsi,0) + " " else
if rsi > overbought then "RSI Overbought: " +round(rsi,0) + " " else
if rsi > rsi[1] then "RSI Rising: " + round(rsi,0) + " " else "RSI Falling: " +round(rsi,0) + " ",
if rsi < oversold then else
if rsi > overbought then else
if rsi > rsi[1] then else;

# end code RSI

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