FXC911
  • Course Outline
  • Beginner
    • Introduction to Technical Analysis
      • Difference Between Technical and Fundamental Analysis
    • Understanding Price Charts
      • Candlestick Charts
      • Time Frames and Their Significance
      • Major Forex Trading Sessions
      • Trading Style
      • Pipsology
    • Trend Analysis
      • Defining a Trend
      • Support and Resistance Levels
      • Understanding Daily Pivot Points
    • Candlestick Patterns
      • Doji
  • Technical Indicators
    • Moving Average
      • SMA
      • EMA
    • MACD
    • Relative Strength Index
    • Bollinger Bands
  • Intermediate
    • Advanced Technical Indicators
      • Fibonacci Retracement and Extensions
    • Combining Technical Indicators
      • Building a Trading System
    • Technical Analysis Tools and Platforms
      • Introduction
        • ProtonMail
        • Crypto Portfolio Tracker
      • Crypto Wallet
        • Atomic Wallet
        • Send/Receive Payments on TronLink
      • Crypto Exchange
        • Crypto Exchange Analysis
        • Nobitex
        • Most Trusted Crypto Exchange
        • Nobitex Exchange Cheat Sheet
        • Bitunix
      • Charting Platform
        • TradingView
      • Calendar
        • Forex Factory
    • Risk Management
      • Position Sizing
      • Risk-Reward Ratio
      • Martingale Strategy
      • Risk Reduction in Crypto: Balancing High-Risk and Low-Risk Assets
    • Psychology of Trading
      • Keeping a Trading Journal
  • Advanced
    • Pine Script V5
      • Step 1: Introduction to Pine Script
      • Step 2: Basic Syntax and Structure
      • Step 3: Working with Data
      • Step 4: Indicators and Overlays
      • Step 5: Advanced Scripting Techniques
      • Step 6: Strategies and Backtesting
      • How To Color The Background?
      • How To Color a Bar?
      • How To Plot Previous Close Value?
      • How To Plot OHLC Values?
      • How To Color An Indicator?
      • How To Plot A Bar?
      • Plot Candle
      • Plot Arrow
      • Plot Character And Text
      • Plot Shape And Text
      • Integer Input
      • Decimal Input
      • Boolean Input
      • Color Input
      • Price Input
      • Resolution Input
      • Symbol Input
      • String Input
      • Source Input
      • Session Input
      • First & Last Bar
    • Algorithmic Trading With Python
      • How To Calculate Technical Indicators For Trading Using Pandas
    • CBSA
      • History of Money
      • History of the Blockchain
      • Components of a Blockchain
      • Altcoin
      • Introduction to USDT
      • BTC Holders
    • On-Chain
      • Market Cap
      • Total Market Cap
      • Understanding BTC Dominance
      • Fear & Greed Index
      • Open Interest
    • Finance Movies
    • Fundamental Analysis
      • Two Sector Economy
    • DYOR Strategy
      • Steps in Cryptocurrency
      • Sui Ecosystem
        • DYOR on SUI
      • Solana Ecosystem
        • Competitive Blockchains
        • Solana Wallets
    • Dex Trading
      • DEX vs CEX
      • Filtering
        • DEXTscore
        • Audit Scan of DEXTscore
        • Technical Analysis
    • Airdrop
      • Lisk
  • Class Materials
    • AlgoTrader Class Video
    • Crypto Quizzes
      • Bitcoin Basics
      • Bitcoin Network
      • Hashing
      • Bitcoin Mining
      • Altcoins
      • Bitcoin Wallets
      • Crypto Exchanges
      • Ethereum Basics
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  • Creating Indicators
  • Overlays vs. Indicators
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  1. Advanced
  2. Pine Script V5

Step 4: Indicators and Overlays

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Last updated 3 months ago

Creating Indicators

Create common indicators like RSI and MACD.

//@version=5
indicator("RSI Example", overlay=false)
rsi = ta.rsi(close, 14)
plot(rsi, title="RSI", color=color.orange)

Overlays vs. Indicators

Overlays are plotted on the price chart, while standalone indicators are plotted in separate panes.

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Creating Indicators
Overlays vs. Indicators