Description
THE IDEA
An RSI that translates its levels into price and plots them directly on the chart, keeping momentum and price in the same space instead of a separate pane.
THE PROBLEM
RSI is normally read in a separate pane.
To use it, you must constantly compare an oscillator value with what price is doing on the main chart.
Levels such as 70, 30, or 50 are numbers on an oscillator. They do not tell you where price needs to be for RSI to reach them.
So you keep translating by eye: "RSI is at 62 — where is that on the chart?"
The problem is not RSI itself.
The problem is that momentum and price are shown in two different places, in two different units.
THE CORE CONCEPT: RSI LEVELS BECOME PRICE LEVELS.
Traditional RSI asks:
"What is the RSI value right now?"
RSI Overlay asks:
"At what price would RSI reach this level?"
Each RSI level is converted into the corresponding price level and plotted directly on the chart.
The oscillator is no longer something you read in one window and translate into another.
Its information is expressed in the same price scale as the movement you are already analyzing.
The RSI sets the level. The chart shows it in price.
WHAT IT DOES
RSI Overlay converts selected RSI references into dynamic price levels and displays them directly on the main chart.
The Bull and Bear Baselines, the Overbought and Oversold levels, and two RSI-based references, Smoothed RSI and Averaged RSI, are all represented as price lines.
The lines update with each new bar, so they continue to reflect the latest RSI state rather than remaining fixed at a historical price.
These are not conventional support or resistance levels.
They represent the price at which the corresponding RSI value would be reached under the current RSI calculation.
The indicator does not try to predict where price will go.
It shows where price stands relative to the RSI levels you are observing.
HOW IT WORKS
- RSI is calculated using Wilder's smoothing.
- Each RSI level is converted into the price that would produce it.
- Bull and Bear Baselines mark the momentum zone around the centerline (default 55 / 45).
- Overbought and Oversold levels are converted the same way (default 70 / 30).
- Smoothed RSI and Averaged RSI are converted into price lines as well.
THE RSI REFERENCES
Bull / Bear Baselines
The price levels at which RSI would enter bullish or bearish momentum territory. The space between them shows where momentum is neutral.
Smoothed RSI
A noise-reduced version of RSI, shown as a price line that reacts more smoothly.
Averaged RSI
A slower, adaptive average of RSI, shown as a price line. It provides a steadier momentum reference.
Overbought / Oversold
The price levels at which RSI would reach the overbought and oversold thresholds.
These references are not automatic signals.
Their position relative to price, and to each other, provides context about how momentum is developing.
MULTI-TIMEFRAME CONTEXT
The RSI does not have to come from the chart timeframe you are viewing.
For example, a Weekly or Monthly RSI can be projected onto an H1 chart.
This places the higher-timeframe momentum framework directly on the price action you are watching.
You choose how much history is drawn, from the last hour up to several years.
The selected timeframe must be higher than the chart timeframe.
CONTROL IT FROM THE CHART
Eleven display modes let you show only what you need, from a clean pair of baselines to the full set of RSI references.
A compact control bar on the chart lets you switch display mode, turn multi-timeframe on or off, and change timeframe and length without reopening the settings.
A reset button returns everything to your starting parameters.
The bar can be placed in any corner or hidden.
WHAT YOU CAN OBSERVE
The indicator is designed to make several things visible:
- Where price stands relative to bullish and bearish momentum zones
- How far price is from overbought and oversold levels, in price terms
- Momentum shifts around the baselines
- Pullbacks and continuation relative to the smoothed and averaged RSI
- Higher-timeframe momentum context on a lower-timeframe chart
RSI Overlay is a measurement tool, not a standalone buy/sell system.
BUILT FOR MOMENTUM IN PRICE TERMS
The purpose is not to replace RSI.
It is to remove the need to translate an oscillator back into price by eye.
Everything you know about RSI still applies. It is simply shown where decisions are actually made: on the price chart.
KEY FEATURES
- RSI levels converted into price levels on the main chart
- Bull and Bear Baselines (default 55 / 45)
- Overbought and Oversold price levels (default 70 / 30)
- Smoothed RSI line
- Averaged RSI line
- Multi-timeframe RSI on lower-timeframe charts
- Selectable display length for multi-timeframe lines
- 11 display modes
- On-chart control bar with reset
- Configurable source, RSI period, smoothing and averaging
- Customizable colors, line styles and thickness
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Trading involves risk. This indicator is a technical analysis tool and should be used together with appropriate risk management.
Summary
It supports multi-timeframe analysis by allowing RSI data from higher timeframes (e.g., weekly or monthly) to be displayed on lower timeframe charts, providing broader momentum context. Users can customize display modes, line styles, colors, and control parameters directly from an on-chart control bar, which includes options to reset settings and adjust timeframe and length without reopening menus.
RSI Overlay serves as a measurement tool to visualize where price stands relative to momentum zones and RSI thresholds in price terms. It does not generate automatic trading signals but aids in observing momentum shifts, pullbacks, and continuations aligned with RSI levels on the price chart.
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