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pine-scriptpine-script-v4

Changing position of created "plotshape" on Pine Script

The signals "RSI Buy" or "RSI Sell" appears directly above or below the bar and sometimes it's difficult to read it. Is it possible to change the position in the y-axis on the chart.

enter code here

//@version=4
study(title="Relative Strength Index", overlay=true, shorttitle="RSI Signals")

srcRSI = close
lenRSI = input(14, minval=1, title="Length")

//method color[enter image description here][1]
srcRSI1 = close
lenRSI1 = input(70, minval=1, title="RSI Up Standard")
srcRSI2 = close
lenRSI2 = input(30, minval=1, title="RSI Down Standard")

upRSI = rma(max(change(srcRSI), 0), lenRSI)
downRSI = rma(-min(change(srcRSI), 0), lenRSI)

rsiRSI = downRSI == 0 ? 100 : upRSI == 0 ? 0 : 100 - 100 / (1 + upRSI / downRSI)

isup() =>
    rsiRSI[1] > lenRSI1 and rsiRSI <= lenRSI1
isdown() =>
    rsiRSI[1] < lenRSI2 and rsiRSI >= lenRSI2

plotshape(isup(), color=#FF0000, style=shape.triangledown, text="RSI Sell", textcolor=#FF0000, location=location.abovebar, size=size.tiny)
plotshape(isdown(), color=#009900, style=shape.triangleup, text="RSI Buy", textcolor=#009900, location=location.belowbar, size=size.tiny)
Solution

  • Replace the plotshape()'s location= arguments of with location.absolute and add any y(price) location for the label (high + atr(10) / low - atr(10)), as is shown in the example below:

    plotshape(isup()? high + atr(10) : na, color=#FF0000, style=shape.triangledown, text="RSI Sell", textcolor=#FF0000, location=location.absolute, size=size.tiny)
plotshape(isdown()? low - atr(10) : na, color=#009900, style=shape.triangleup, text="RSI Buy", textcolor=#009900, location=location.absolute, size=size.tiny)

    enter image description here