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Enhanced RSI Indicator with Moving Averages and Market Trend Analysis
This advanced RSI indicator combines traditional RSI analysis with dual moving averages and customizable trend zones, providing comprehensive momentum analysis for any trading strategy.
Key Features:

Core RSI: Standard 14-period RSI with customizable period
Dual Moving Averages: SMA (13-period) and EMA (33-period) of RSI for trend smoothing
Dynamic Fill Colors: Green when EMA < SMA (bullish momentum), Red when EMA > SMA (bearish momentum)
Traditional Levels: Standard 70/30 overbought/oversold zones with purple fill
Market Trend Zones:

Bull market support level (default 40) - RSI support in uptrends
Bear market resistance level (default 60) - RSI resistance in downtrends



Visual Elements:

Blue RSI line with gray moving averages
Color-coded fills between moving averages for quick trend identification
Dashed lines for all key levels
Semi-transparent background fills for clear chart reading

Trading Applications:

Identify momentum shifts when RSI moving averages cross
Use trend zones for market-specific RSI levels (bull markets hold higher, bear markets resist lower)
Combine traditional overbought/oversold signals with trend context
Enhanced divergence analysis with smoothed RSI lines

How to Use:

Trend Identification: Watch the fill color between moving averages (green = bullish, red = bearish)
Entry Signals: Look for RSI bounces off trend-specific support/resistance levels
Exit Signals: Traditional 70/30 levels for overbought/oversold conditions
Confirmation: Use moving average crossovers for momentum confirmation

Customizable Parameters:

RSI calculation period (default: 14)
SMA period for RSI smoothing (default: 13)
EMA period for RSI smoothing (default: 33)
Bull trend support level (default: 40)
Bear trend resistance level (default: 60)

Credit:
Originally created by Phi Deltalytics, modified by Umur Ozkul, and updated to Pine Script v6.