RSI Levels On Chart

The RSI Levels On Chart indicator calculates and displays the price levels required for the Relative Strength Index (RSI) to reach specific values directly on the price chart. This tool allows traders to visualize key oscillator thresholds—such as overbought, oversold, and neutral zones—as price targets, providing a clearer perspective on trend transitions and potential reversal points across any timeframe.

Usage

The Usage section describes how the script can be used to identify critical price action milestones based on RSI momentum.

• Trend Identification: The middle 50-level line is color-coded to reflect the current trend direction. It turns red when the level is falling and switches to the user-defined neutral color when rising, helping to quickly identify market sentiment.
• Price Forecasting: By projecting RSI levels onto the chart, you can see the exact price a candle needs to reach for the RSI to hit specific values (e.g., Extreme Overbought at 85 or Bullish Zone at 60).
• Zone Analysis: Traders can define Bullish and Bearish zones to see where the price enters high-momentum or low-momentum regimes without looking away from the price action.
• Alerts: The script supports various alerts for crossings of the 50 level, overbought/oversold thresholds, and changes in the direction of the 50-level line.

Details

This indicator utilizes "Reverse Engineering RSI" calculations originally conceptualized by Giorgos Siligardos, Ph.D. Instead of a standard oscillator pane, it solves for the price variable in the RSI formula to plot horizontal dynamic levels. The script also includes an optional smoothing feature (Hull Moving Average) for the projected levels to filter out market noise and provide cleaner visual lines.

Settings

Rsi Pivot Points Settings

• RSI Source: Determines the price data used for calculations (e.g., Close, Open, HL2).
• RSI Length: The lookback period for the RSI calculation (default is 14).
• RSI Extreme OB / OS: User-defined values for extreme volatility levels.
• RSI Overbought / Oversold: Standard thresholds for momentum exhaustion.
• RSI Bullish / Bearish Zone Start: Specific values marking the entry into trend-specific zones.
• RSI Middle Level: The neutral pivot point (typically 50).
• Smoothed RSI?: Toggles the application of a smoothing factor to the projected price lines.
• RSI Smooth Length: The length used for the smoothing calculation.
• Labels Distance From Current Price: Controls the offset of the price labels to the right of the current bar.
• Visual Toggles: Options to hide/show labels on scales, plots, lines, or background fills.
• Colors & Line Styles: Customization options for each level's appearance and the style of the projected lines.

FAQ

How do I interpret the color-changing middle line?

The middle line represents the price level equivalent to the RSI 50 value. When it is red, the required price for a neutral RSI is decreasing (downward momentum); when it is your chosen neutral color, the required price is increasing (upward momentum).

Can I use this with other indicators?

Yes, it is designed to complement other oscillators or trend-following tools. It works well alongside standard RSI indicators or moving averages to confirm price-momentum convergences.

How do I access RSI Levels On Chart?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.