TKP RSI Bar Color For ThinkOrSwim

[BobbyJackson]

Author states: Traditional use of RSI is to use it as an "Overbought" and "Oversold" indicator. A more uncommon/unknown use, especially among new traders, is to use is as a "Momentum" indicator. I personally like to look for stocks where RSI>50
Default settings are set to color all bars red when below 50, and white when above 50, but try for your self setting different colors above 70, and below 30 to better see overbought and oversold conditions.

Here is the original Tradingview code:
https://www.tradingview.com/script/wSjHjLHz-TKP-RSI-BAR-COLOR/


For the new ThinkOrSwim code, you must scroll down to the next post

 

[samer800]

https://www.tradingview.com/script/wSjHjLHz-TKP-RSI-BAR-COLOR/

/// This script was influenced by Scilentors-"RSI Bar Colors / Scilentor". I improved upon the idea by adding the ability to change the full range of RSI (Between 0 through 100) to any color you want within 5 point increments.
/// Traditional use of RSI is to use it as an "Overbought" and "Oversold" indicator. A more uncommon/unknown use, especially among new traders, is to use is as a "Momentum" indicator. I personally like to look for stocks where RSI>50
/// Default settings are set to color all bars red when below 50, and white when above 50, but try for your self setting different colors above 70, and below 30 to better see overbought and oversold conditions.
///I got a lot of requests for this script and I hope it helps you in your trading journey :)

study(title="TKP RSI BAR COLOR", overlay=true, shorttitle="TKP-RSI BC")

// RSI Formula//////////////////////////////////////////
src = close, len = input(14, minval=1, title="Length")
up = rma(max(change(src), 0), len)
down = rma(-min(change(src), 0), len)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down))

// RSI Parameters//////////////////////////////////////////

RSI100 = rsi < 100 and rsi > 95
RSI95 = rsi < 95 and rsi > 90
RSI90 = rsi < 90 and rsi > 85
RSI85 = rsi < 85 and rsi > 80
RSI80 = rsi < 80 and rsi > 75
RSI75 = rsi < 75 and rsi > 70
RSI70 = rsi < 70 and rsi > 65
RSI65 = rsi < 65 and rsi > 60
RSI60 = rsi < 60 and rsi > 55
RSI55 = rsi < 55 and rsi > 50
RSI50 = rsi < 50 and rsi > 45
RSI45 = rsi < 45 and rsi > 40
RSI40 = rsi < 40 and rsi > 35
RSI35 = rsi < 35 and rsi > 30
RSI30 = rsi < 30 and rsi > 25
RSI25 = rsi < 25 and rsi > 20
RSI20 = rsi < 20 and rsi > 15
RSI15 = rsi < 15 and rsi > 10
RSI10 = rsi < 10 and rsi > 5
RSI5 = rsi < 5 and rsi > 0


// ////////////Color rules /////////////////////////////////


barcolor(RSI5 ? red : na, title = "RSI 0<>5")
barcolor(RSI10 ? red : na, title = "RSI 5<>10")
barcolor(RSI15 ? red : na, title = "RSI 10<>15")
barcolor(RSI20 ? red : na, title = "RSI 15<>20")
barcolor(RSI25 ? red : na, title = "RSI 20<>25")
barcolor(RSI30 ? red : na, title = "RSI 25<>30")
barcolor(RSI35 ? red : na, title = "RSI 30<>35")
barcolor(RSI40 ? red : na, title = "RSI 35<>40")
barcolor(RSI45 ? red : na, title = "RSI 40<>45")
barcolor(RSI50 ? red : na, title = "RSI 45<>50")
barcolor(RSI55 ? white : na, title = "RSI 50<>55")
barcolor(RSI60 ? white : na, title = "RSI 55<>60")
barcolor(RSI65 ? white : na, title = "RSI 60<>65")
barcolor(RSI70 ? white : na, title = "RSI 65<>70")
barcolor(RSI75 ? white : na, title = "RSI 70<>75")
barcolor(RSI80 ? white : na, title = "RSI 75<>80")
barcolor(RSI85 ? white : na, title = "RSI 80<>85")
barcolor(RSI90 ? white : na, title = "RSI 85<>90")
barcolor(RSI95 ? white : na, title = "RSI 90<>95")
barcolor(RSI100 ? white : na, title = "RSI 95<>100")

just wanted to bump this. Thank you

check the below, added more features:

# @RolandoSantos
#study(title="TKP RSI BAR COLOR", overlay=true, shorttitle="TKP-RSI BC")
# converted by Sam4Cok@Samer800    - 01/2025

input timeframe = AggregationPeriod.MIN;
input colorBars = yes;
input signalType = {Default "Reversal Signal", "Trend Signal", "Don't Show"};
input src = FundamentalType.CLOSE;
input len = 14;
input overbought = 75;
input oversold = 25;

def na = DOuble.NaN;
def cap = GetAGgregationPeriod();
def tf = Max(cap, timeframe);

##// ~~ Gradient Coloring {
Script gradient_color {
input src = close;
input minVal = 10;
input maxVal = 400;
input loR = 173;
input loG = 216;
input loB = 230;
input hiR = 41;
input hiG = 98;
input hiB = 255;
    def value = if isNaN(src) then 0 else src;
    def clamped_value = max(min(value, maxVal), minVal);
    def normalized_value = (clamped_value - minVal) / (maxVal - minVal);
    def re = floor(loR + (hiR - loR) * normalized_value);
    def gr = floor(loG + (hiG - loG) * normalized_value);
    def bl = floor(loB + (hiB - loB) * normalized_value);
    plot r = re;
    plot g = gr;
    plot b = bl;
}
def nRSI = rsi(Price = Fundamental(src, period = tf), length = len);
def colR = gradient_color(nRSI, oversold, overbought, 255, 0, 0, 0, 255, 0).r;
def colG = gradient_color(nRSI, oversold, overbought, 255, 0, 0, 0, 255, 0).g;
def colB = gradient_color(nRSI, oversold, overbought, 255, 0, 0, 0, 255, 0).b;

def crossUp;
def crossDn;

Switch (signalType) {
Case "Don't Show" :
    crossUp = na;
    crossDn = na;
Case "Trend Signal" :
    crossUp = nRSI Crosses Above overbought;
    crossDn = nRSI Crosses Below oversold;
Default :
   crossUp = nRSI Crosses Above oversold;
   crossDn = nRSI Crosses Below overbought;
}
plot sigUp = if !crossDn[1] and crossUp and !crossUp[1] then low else na;
plot sigDn = if !crossUp[1] and crossDn and !crossDn[1] then high else na;
sigUp.SetPaintingStrategy(PaintingStrategy.BOOLEAN_WEDGE_DOWN);
sigDn.SetPaintingStrategy(PaintingStrategy.BOOLEAN_WEDGE_UP);
sigUp.SetDefaultColor(Color.CYAN);
sigDn.SetDefaultColor(Color.MAGENTA);


AssignPriceColor(if !colorBars then Color.CURRENT else CreateColor(colR,colG, colB));

#-- END of CODE

 

[BobbyJackson]

Amazing thank you so very much

 

[BobbyJackson]

Not to look the proverbial gift horse in the mouth: Quick question regarding the colors.

There is an orangish color I am seeing?