RSI Overbought Oversold - aflcode.com | Latest collection of Amibroker afl 2023

How to use RSI Overbought Oversold Amibroker afl?

RSI Overbought Oversold is one of the most popular and widely used Amibroker afl. It will help you to understand overbought and oversold zone of particular stock. Use RSI Overbought Oversold afl with any time frame. Use this afl with candlestick chart for best results

RSI Overbought Oversold

//www.aflcode.com
_SECTION_BEGIN("MODIFIED RSI ");
SetChartBkColor(ParamColor("Panel color ",colorBlack));
RP = Param("RSI",7,2,20,1);
UL= Param("Upper Limit",70,0,100,1);
LL= Param("Lower Limit",30,0,100,1);
PlotGrid(UL,colorBlue);    
PlotGrid(LL,colorBlue); 
R= RSIa(C, RP);
Plot(R, "MODIFIED RSI",  colorLime, styleThick);

Overbought=70;
Oversold=30;
Plot(Overbought,"Overbought Zone",colorBlue);
Plot(Oversold,"Oversold Zone",colorGreen);

Overbought=70;
Oversold=30;
Buy = Cross(R, Oversold) AND R > Oversold;
Sell = Cross(Overbought, R) AND R < Overbought;

PlotShapes(IIf(Sell, shapeDownArrow , shapeNone), colorRed);
PlotShapes(IIf(Buy, shapeUpArrow , shapeNone), colorGreen); 

_SECTION_END();

MaxGraph=10;
Period1=Param("Period 1", 10, 5, 50, 1);
Period2=Param("Period 2", 10, 5, 50, 1);
EMA1= EMA(R,Period1);
EMA2= EMA(EMA1,Period2);
Difference= EMA1 - EMA2;
ZeroLagEMA= EMA1 + Difference;
PR=abs(ZeroLagEMA); 

Graph0=PR;

MoveAvg=MA(PR,5);  

Graph1=MoveAvg;          //Remove the // if you want a Crossover MA to plot
Graph1Color=colorTan;

Graph0Style=4;
upbar= PR>= MoveAvg AND PR>= Ref(PR,-1) ;
downbar=(PR < MoveAvg) OR PR>= MoveAvg AND PR< Ref(PR,-1) ;
barcolor = IIf( downbar,colorRed, IIf( upbar, colorBrightGreen, 7));
Graph0BarColor = ValueWhen( barcolor != 0, barcolor );
Graph2=30;
Graph3=70;

Graph2Style=Graph3Style=Graph4Style=1;
Graph4Color=2;
Graph2Color=5;
Graph3Color=4;