MACD crossover while RSI Oversold/Overbought

This indicator draws signals on the chart when a Bullish MACD Crossover occurs at the same time RSI is "oversold", and also when Bearish MACD Crossover occurs at the same time RSI is "overbought"

Indicators are drawn on the chart in the following scenarios:

1. Bullish signal
a. MACD bullish crossover occurs on a single bar
b. RSI was below the Oversold threshold (29 by default) within the prior 5 bars

2. Bearish signal
a. MACD bearish crossover occurs on a singnle bar
b. RSI was above the Overbought threshold (71 by default) within the prior 5 bars

Release Notes

Removed other distractions off sample chart to give a better idea of the overlay indicators

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

ericsolan

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Open-source script

ericsolan