OPEN-SOURCE SCRIPT
RSI with Zone Background Fill
This indicator visually highlights overbought and oversold RSI zones directly on the price chart (since overlay=true).
What it does exactly:
Calculates the standard RSI (period 14, source close).
When RSI is above the specified level (default 70) — the chart background is colored reddish (overbought).
When RSI is below the specified level (default 30) — the background is colored greenish (oversold).
Fill transparency is adjustable (default 85% — barely noticeable).
The RSI line itself is not drawn on the chart (it is only displayed in the Data Window) to avoid cluttering the price chart.
Why it's useful:
To quickly see when the price is in extreme RSI zones without opening a separate indicator window. Convenient for context — for example, to look for reversals or confirm overbought/oversold conditions directly on the candles.https://prnt.sc/LvQLG-ft971R
What it does exactly:
Calculates the standard RSI (period 14, source close).
When RSI is above the specified level (default 70) — the chart background is colored reddish (overbought).
When RSI is below the specified level (default 30) — the background is colored greenish (oversold).
Fill transparency is adjustable (default 85% — barely noticeable).
The RSI line itself is not drawn on the chart (it is only displayed in the Data Window) to avoid cluttering the price chart.
Why it's useful:
To quickly see when the price is in extreme RSI zones without opening a separate indicator window. Convenient for context — for example, to look for reversals or confirm overbought/oversold conditions directly on the candles.https://prnt.sc/LvQLG-ft971R
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.