OPEN-SOURCE SCRIPT

Relative Strength Index with Highlights and Success Test

2517
This script does two things:

1- Highlights extreme levels on RSI
2- Calculates what % of the time, price closed higher (lower) with some minimum threshold when RSI was below oversold (overbought) level in a predefined number of bars.

I use this to understand if buying the dip/selling the rip works for a security and on what time frame and if it could be a profitable strategy that can generate large enough moves.

No guarantees on the accuracy of the code. Let me know if you see anything wrong

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