RSI Histogram with Configurable Overbought and Oversold Levels

Summary

This document describes a Relative Strength Index indicator presented as a histogram. It marks overbought and oversold zones and exposes three settings: the RSI averaging period, the upper threshold for the overbought zone, and the lower threshold for the oversold zone. These controls let a user adjust the calculation window and the levels used to identify extreme readings.

The text explains the indicator’s display and inputs but gives no interpretation rules, trading signals, chart examples, or performance evidence. It does not specify default thresholds or explain whether readings are intended as reversal warnings, trend filters, or something else. RSI thresholds are therefore descriptive settings here, not a complete strategy. Any use as a trading signal would need separate rules and testing across instruments, timeframes, and market regimes.

Key ideas

• The indicator displays RSI values as a histogram.
• The configured upper level marks the overbought zone.
• The configured lower level marks the oversold zone.
• The RSI period controls the averaging window used in its calculation.
• The description provides no trade rules or performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.