Step 4: Indicators and Overlays

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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)

Creating Indicators

Overlays vs. Indicators

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

Overlays vs. Indicators

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