Reverse RSI [R] – Predictive RSI Price Levels

Reverse RSI [R] – Predictive RSI Price Levels

Description
This indicator is a modified and enhanced version of the original "Reverse RSI" by Franklin Moormann (cheatcountry), published under the MIT License. It estimates the price levels at which the RSI would reach specific thresholds, typically RSI = 30 (oversold) and RSI = 70 (overbought), based on current market conditions.

Key Features

Calculates price levels corresponding to RSI = 30 and RSI = 70

Helps forecast potential support and resistance zones based on RSI targets

Automatically updates with each new candle

Supports custom RSI length and price source (close, hl2, ohlc4, etc.)

Designed for traders who want to anticipate momentum extremes before they occur

Use Cases

Estimate how far the price must move to reach RSI oversold or overbought levels

Plan limit entries or exits based on projected RSI thresholds

Combine with standard RSI or other indicators for confirmation and analysis

Credits
This script is based on the original "Reverse RSI" by Franklin Moormann (cheatcountry) and released under the MIT License.
Modified and maintained by bitcoinrb.