Dear Forum (and especially Dear Nicolas, Roberto & Vonasi),
I want to build an indicator that marks the price level on my chart at which the RSI indicator will be in oversold territory (i.e. above 80) for the current bar. However I cannot figure out how to code the calculation.
So basically, for any closed bar, the RSI value is fixed. For the bar that is currently in motion, the RSI value changes according to the last price. What I would like to know for the bar that is currently unfolding is the price level that it would need to reach to be in oversold territory. I would then like that this price level is market by a simple line (i.e. segment) at the currently unfolding bar (I have drawn a simple example of how this might look on the attached screenshot). I do not care as much about how it looks at the end because I think that I can build that myself. I would, however, appreciate if you could help me figure out the calculation necessary for this indicator (i.e. where would the price need to close at the currently unfolding bar for the RSI to be above 80).
Thank you in advance. Greetings from Paris.
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