OPEN-SOURCE SCRIPT

RSI Rangebound Area

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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!

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