The RSI only plots itself between a high and a low value. It does not show its bullish/bearish sentiment. The RSI TV shows the sentiment and helps anticipate the RSI trend but not the price trend. When the Trend Veracity Line is in green, there is bullish sentiment. When it is in red, there is bearish sentiment. The closer the lines get to their extremities, the more the current trend of the RSI is exhausted. It works quite well even in choppy markets. See notes in the picture for more details.
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Hello, I have noticed that this is not accurate on a lot of other currencies. In the meantime, please disregard this indicator for the moment. I am close to a more accurate fix so that you may be able to use it with any other currency you'd like. I will post the updated script soon.