TradingView Indicator Script

Tuesday, 14 Oct 2025

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Warning!

Investment involves risks. Investors should study the information before making an investment decision. We do not intend to persuade or advise on investments. We are merely presenting historical statistical data in the form of graphs for educational purposes only.

SmartMCDX + RSI Zones

• The indicator provided comes from personal experience and trial and error. It does not guarantee 100% accuracy. I would like to share it with investors to be used as statistical data and a guideline for stock analysis.

• Overview: The script combines the SmartMCDX and RSI Zones indicators into one. Details are as follows:

  1. RSI Zones are implemented by dividing the RSI into different colored background zones. This is a key feature to make it easier to understand the RSI reading.

     • (1) Red Zone = RSI greater than 70: Overbought. Price is very high and may potentially decrease.
     • (2) Light Red Zone = RSI 60-70: Strong buying pressure. Price has an upward trend.
     • (3) Light Orange Zone = RSI 50-60: Price has a potential to increase.
     • (4) Light Blue Zone = RSI 40-50: Price could potentially move either up or down.
     • (5) Light Green Zone = RSI 30-40: Price has a potential to decrease.
     • (6) Green Zone = RSI less than 30: Oversold. Strong selling pressure. Price may potentially decrease further.

  2. SmartMCDX is a volume-based indicator shown as a histogram with different colors. Details are as follows:

     • (A) Red Bars show the trading volume of major investors (big players). The characteristics of these bars significantly impact the buy/sell price.
       • Tall bars indicate high trading volume, suggesting a higher chance of price increase.
       • Short bars indicate low trading volume, suggesting a higher chance of price decrease.
     • (B) Yellow Bars show the trading volume of daily traders. The characteristics of these bars impact the buy/sell price, but less significantly than the major investors' volume.
       • Tall bars indicate high trading volume, suggesting a higher chance of price increase.
       • Short bars indicate low trading volume, suggesting a higher chance of price decrease.
     • (C) Green Bars show the trading volume of retail investors. The height of these bars (tall/short) usually has minimal impact on the buy/sell price.

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• Download and read the installation guide at Github

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