The Color RSI is an oscillator that is used to determine oversold and overbought conditions. If the RSI value is lower than 30, the market is considered as “oversold” and if the value is higher than 70, the market is considered as “overbought”.
Unlike other RSI standard indicators, this indicator plots the oversold and overbought areas by color so a trader can easily identify when the price reaches an oversold and overbought area.
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