RSI Level as Horizontal Line

azakusa

Member
Anyone have any ideas on the code needed to make a simple horizontal line that follows RSI value? I have a thinkscript study which I located somewhere on the internet that follows price value in real time. Now looking to add the same to the RSI study.

Problem is that I am not much of a coder. I have played around with mixing the code below with the RSI code, but no luck. I can hack stuff by cut and pasting but understand little of the actual functionality behind it.

If its any help here is the script I am using to follow price value:

Code:
#Plots a Horizontal Line that follows the price value selected
input price=close;
input offset=0;
input length = 300;

def sma = SimpleMovingAvg(price, 1, length);
rec line = if IsNaN(sma) then line[1] else sma[offset];
plot priceline=if isnan(sma) then line else double.nan;
priceline.setpaintingStrategy(paintingStrategy.LINE);
priceline.setlineWeight(3);
priceline.setdefaultColor(color.green);
priceline.hideBubble();

Any clues, ideas or a flat out solution would be hugely appreciated!

Thank you all.
 
Solution
something like this?

Code:
#Plots a Horizontal Line that follows the price value selected
#
# TD Ameritrade IP Company, Inc. (c) 2007-2021
#

declare lower;

input length = 14;
input over_Bought = 70;
input over_Sold = 30;
input price = close;
input averageType = AverageType.WILDERS;
input showBreakoutSignals = no;

def NetChgAvg = MovingAverage(averageType, price - price[1], length);
def TotChgAvg = MovingAverage(averageType, AbsValue(price - price[1]), length);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;

plot RSI = 50 * (ChgRatio + 1);
plot OverSold = over_Sold;
plot OverBought = over_Bought;
plot UpSignal = if RSI crosses above OverSold then OverSold else Double.NaN;
plot DownSignal = if RSI crosses below...
@azakusa You had the right idea... If you can't figure out where the following line goes then post your RSI code and I'll add it in... The code is modified from one of several of my PriceLine scripts...

Ruby:
plot rsiLine = HighestAll(if !IsNaN(RSI) and IsNaN(RSI[-1]) then RSI else Double.NaN);
 
Last edited:
NICE! I pasted it in at the eof. Seems to work like a charm. Thank you thank you thank you!

Been playing with this on the one minute chart and have noticed that it doesnt actually tick along with the realtime RSI value, but plots after the end of each minute. Is there a way to alter it so that it moves in realtime? Thanks again.
 
@azakusa Mine moves right with my on-chart RSI in all timeframes... Below is an example with the only difference being that my RSI Chart Label is set to Round to the nearest whole number, yet that Left Axis RSI is exact...

T6Bnsst.png


Second example...

zchLxQg.png
 
Rad, Thanks for the follow-up. I am not using RSI inside the PA but in the lower. You can see here there are two different bubble values when showing the default TOS RSI and the one with your line of code in it (called plotliner) simultaneously.

rsi-plot-example.png
 
Did you want something like this? It paints a horizontal line on the right side of the lower RSI that follows price

Code:
input offset=0;


rec line = if IsNaN(RSI) then line[1] else RSI[offset];
plot priceline=if isnan(RSI) then line else double.nan;
priceline.setpaintingStrategy(paintingStrategy.LINE);
priceline.setlineWeight(3);
priceline.setdefaultColor(color.green);
priceline.hideBubble();
 
something like this?

Code:
#Plots a Horizontal Line that follows the price value selected
#
# TD Ameritrade IP Company, Inc. (c) 2007-2021
#

declare lower;

input length = 14;
input over_Bought = 70;
input over_Sold = 30;
input price = close;
input averageType = AverageType.WILDERS;
input showBreakoutSignals = no;

def NetChgAvg = MovingAverage(averageType, price - price[1], length);
def TotChgAvg = MovingAverage(averageType, AbsValue(price - price[1]), length);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;

plot RSI = 50 * (ChgRatio + 1);
plot OverSold = over_Sold;
plot OverBought = over_Bought;
plot UpSignal = if RSI crosses above OverSold then OverSold else Double.NaN;
plot DownSignal = if RSI crosses below OverBought then OverBought else Double.NaN;

UpSignal.SetHiding(!showBreakoutSignals);
DownSignal.SetHiding(!showBreakoutSignals);

RSI.DefineColor("OverBought", GetColor(5));
RSI.DefineColor("Normal", GetColor(7));
RSI.DefineColor("OverSold", GetColor(1));
RSI.AssignValueColor(if RSI > over_Bought then RSI.color("OverBought") else if RSI < over_Sold then RSI.color("OverSold") else RSI.color("Normal"));
OverSold.SetDefaultColor(GetColor(8));
OverBought.SetDefaultColor(GetColor(8));
UpSignal.SetDefaultColor(Color.UPTICK);
UpSignal.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
DownSignal.SetDefaultColor(Color.DOWNTICK);
DownSignal.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);




#Plots a Horizontal Line that follows the price value selected

input offset=0;
input length2 = 25;

def sma = SimpleMovingAvg(rsi, 1, length2);
rec line = if IsNaN(sma) then line[1] else sma[offset];
plot priceline=if isnan(sma) then line else double.nan;
priceline.setpaintingStrategy(paintingStrategy.LINE);
priceline.setlineWeight(3);
priceline.setdefaultColor(color.green);
priceline.hideBubble();
 
Solution
@germanburrito

Hello again.

Can this study be made to draw the horizontal plot at the close of the previous candle, as opposed to move in realtime with the current RSI value?

Been using it daily but have to admit trying to follow it when its constantly moving is tricky.
 

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