RSI Trends Indicator Script For Tradingview 

What is RSI?

Relative Strength Index (RSI) is a momentum indicator used in technical analysis that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset.

The RSI is a popular technical indicator used in many trading strategies. Overbought and oversold signals are often considered more reliable when combined with divergences.

How is the RSI calculated?

RSI = 100 – 100 / (1 + RS)

Where RS is the average gains over x periods / average losses over x periods

Essentially the RSI is a calculation of the profitable price closes relative to unprofitable price closes, reflected as a percentage.

As the indicator value is reflected as a percentage, it will move between 0 and 100.