30-70 RSI Strategy with Colored Bar by khetiajay
By khetiajay
Performance Metrics
- Author: khetiajay
- Symbol: NASDAQ:AAPL
- Timeframe: 1 minute
- Net P&L: +4,755.16 USD (+0.48%)
- Win Rate: 67.6%
- Profit Factor: 1.124
- Max Drawdown: 17,331.11 USD (1.73%)
- Total Trades: 71
- Sharpe Ratio: 0.007
Description
This script colors price bars based on Relative Strength Index (RSI) levels, giving traders a quick and visual way to assess overbought or oversold market conditions directly on the chart.📈 Key Features:✅ RSI-Based Bar Coloring:Green bars when RSI is above the upper threshold (default 70) – suggests bullish momentum.Red bars when RSI is below the lower threshold (default 30) – indicates bearish pressure.Bars remain uncolored when RSI is between thresholds – a neutral zone.🔧 Customizable RSI Settings:Adjustable RSI length (default: 14 periods)Adjustable overbought/oversold levels (default: 70/30)🧠 Helps traders:Quickly spot potential reversals or trend continuationsVisually align price action with momentum🛠️ Usage:Ideal for trend-following, reversal, and momentum strategies.Works across any timeframe (1m, 5m, 1h, daily, etc.).