OPEN-SOURCE SCRIPT
RSI Rangebound Area
RSI Rangebound Area is a Pine Script v6 indicator that automatically detects consolidation zones where both price and RSI stay within user-defined thresholds. During a rangebound period it:
Shades the background to highlight consolidation
Places “Range Start” and “Range End” labels at the beginning and end
Displays an info table (RSI value, price range %, RSI range, current state: Rangebound/Trending)
Key Inputs
RSI Length
Overbought / Oversold Levels
Range Detection Period
Max Price Range (%)
Max RSI Range
Toggle for “Please add RSI(14) indicator” reminder
Ideal for spotting flat markets and refining breakout or mean-reversion entries. Free and open-source—feel free to customize and contribute!
Shades the background to highlight consolidation
Places “Range Start” and “Range End” labels at the beginning and end
Displays an info table (RSI value, price range %, RSI range, current state: Rangebound/Trending)
Key Inputs
RSI Length
Overbought / Oversold Levels
Range Detection Period
Max Price Range (%)
Max RSI Range
Toggle for “Please add RSI(14) indicator” reminder
Ideal for spotting flat markets and refining breakout or mean-reversion entries. Free and open-source—feel free to customize and contribute!
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.
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
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.
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.