OPEN-SOURCE SCRIPT
RSI Extreme Value Labels [DotGain]
RSI Extreme Value Labels
A standard RSI that writes the actual number on the chart whenever the indicator turns at an extreme. Instead of eyeballing how deep a spike went, you see it: 82, 74, 19.
How it works
The script looks for confirmed pivot highs and lows in the RSI line. A pivot high only gets a label if it sits at or above the overbought level; a pivot low only gets one if it sits at or below the oversold level. Everything in between stays clean.
Because pivots need bars on both sides to be confirmed, labels appear a few bars after the actual turn. That is the trade-off for not repainting — a label, once printed, stays where it is.
Settings
Notes
Useful for comparing the strength of successive extremes, spotting divergences at a glance, and reviewing past reactions without hovering over the line. Works on any symbol and timeframe.
Have fun :)
Disclaimer
This RSI Extreme Value Labels indicator is provided for informational and educational purposes only. It does not, and should not be construed as, financial, investment, or trading advice.
This indicator is an independent implementation of a standard Relative Strength Index combined with a pivot-based labeling routine, and is not affiliated with, or endorsed by, any third-party trading systems, strategies, protocols, or trademarked methodologies. The labels, overbought and oversold zones, and RSI values displayed by this indicator are generated by a predefined set of algorithmic rules based on historical price data and user-defined input settings. They do not constitute a direct recommendation to buy, sell, or hold any financial instrument or digital asset.
All trading and investing in financial markets involves a substantial risk of loss. You may lose part or all of your invested capital. Past performance does not guarantee future results. This indicator marks momentum extremes only after the required confirmation bars have closed, and may therefore produce lagging, incomplete, or misleading signals. An extreme RSI reading can persist for a long time in a strong trend and does not by itself indicate a reversal. Market behavior is influenced by many external factors and can deviate significantly from historical patterns or expectations.
The creator DotGain assumes no responsibility or liability for any financial losses, damages, or decisions made based on the use of this indicator or the information it provides. You are solely responsible for your own trading and investment decisions. Always conduct your own research (DYOR), use proper risk management, validate insights with additional tools or analysis, and consider your personal financial situation and risk tolerance before making any financial decision.
A standard RSI that writes the actual number on the chart whenever the indicator turns at an extreme. Instead of eyeballing how deep a spike went, you see it: 82, 74, 19.
How it works
The script looks for confirmed pivot highs and lows in the RSI line. A pivot high only gets a label if it sits at or above the overbought level; a pivot low only gets one if it sits at or below the oversold level. Everything in between stays clean.
Because pivots need bars on both sides to be confirmed, labels appear a few bars after the actual turn. That is the trade-off for not repainting — a label, once printed, stays where it is.
Settings
- RSI length, source and line color
- Overbought / oversold thresholds, plus an optional shaded zone
- Pivot bars left and right — larger values mean fewer but more significant labels
- Decimal places, vertical offset, text color and size
Notes
Useful for comparing the strength of successive extremes, spotting divergences at a glance, and reviewing past reactions without hovering over the line. Works on any symbol and timeframe.
Have fun :)
Disclaimer
This RSI Extreme Value Labels indicator is provided for informational and educational purposes only. It does not, and should not be construed as, financial, investment, or trading advice.
This indicator is an independent implementation of a standard Relative Strength Index combined with a pivot-based labeling routine, and is not affiliated with, or endorsed by, any third-party trading systems, strategies, protocols, or trademarked methodologies. The labels, overbought and oversold zones, and RSI values displayed by this indicator are generated by a predefined set of algorithmic rules based on historical price data and user-defined input settings. They do not constitute a direct recommendation to buy, sell, or hold any financial instrument or digital asset.
All trading and investing in financial markets involves a substantial risk of loss. You may lose part or all of your invested capital. Past performance does not guarantee future results. This indicator marks momentum extremes only after the required confirmation bars have closed, and may therefore produce lagging, incomplete, or misleading signals. An extreme RSI reading can persist for a long time in a strong trend and does not by itself indicate a reversal. Market behavior is influenced by many external factors and can deviate significantly from historical patterns or expectations.
The creator DotGain assumes no responsibility or liability for any financial losses, damages, or decisions made based on the use of this indicator or the information it provides. You are solely responsible for your own trading and investment decisions. Always conduct your own research (DYOR), use proper risk management, validate insights with additional tools or analysis, and consider your personal financial situation and risk tolerance before making any financial decision.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.