Rsi above event
Marks each bar where recent up-pressure, measured as RSI, is above the threshold (default +0.5).
This is an RSI variant centred on zero. Over the last rsi_window bars it sums the price rises and falls, weights each move by log(volume + 1), and returns (gains minus losses) over (gains plus losses), so the value stays between -1 and +1. The event is a plain level test: it marks every bar where that value is above the threshold, so markers stay on while the run continues rather than firing once at the crossing.
How to read it
- Markers sit on the candles; this indicator has no pane of its own.
- A marker means the balance is above the threshold on that bar. On a classic 0 to 100 RSI scale, the default +0.5 is about 75 and +0.4 is 70.
- A run of consecutive markers is one stretch of sustained up-pressure. On SPY one-minute bars in September 2026 at default settings, markers covered about 8% of bars in about 22 separate runs a day.
- The first marker of a run is the bar the balance crossed up through the threshold; the rest only show that it stayed there.
What it outputs
- RSI above threshold
- Marks each candle where the RSI balance is above the threshold; a run of markers is one stretch of sustained up-pressure.
When it fires
On every bar where the balance is above the threshold. The first marker of a run is the bar it crossed up through the threshold, meaning mostly up-moves pushed it there. The marker says nothing about what comes next; a long run only shows the pressure persisted.
Settings
- rsi_window
- How many recent bars the up and down balance is measured over. Shorter (around 7) reacts within minutes and tends to mark more separate runs; longer (60 or more) moves slowly and marks fewer, longer stretches.
- threshold
- The level the balance must exceed to mark a bar. Raising it toward +1 leaves fewer, stronger stretches; lowering it toward 0 marks many more bars. The slider runs to 51, but the balance stays in -1 to +1.
Pitfalls
- It is a level test, not a crossover: every bar of a run is marked, so count runs rather than markers when judging how often it fires.
- It is a plain rolling sum, not Wilder's smoothed RSI. Each move is weighted by log(volume + 1), so volume counts only logarithmically, and the first rsi_window bars never mark while warming up.
- The threshold slider runs to 51, yet the balance stays in -1 to +1: a threshold above 1 never marks, and one below -1 marks every bar after warm-up.