RSI Algo

//@version=5
//Orignial Author: https://www.tradingview.com/u/miyako.pro/
//Revised: War-Jackel

indicator('RSI Algo', overlay=true)

//-- Colors

colorRed = #ff0000
colorPurple = #e600e6
colorGreen = #3fff00
colorOrange = #e2a400
colorBlack = #000000
colorWhite = #FFFFFF
colorYellow = #ffff00
colorGold = #f57c00
colorMidGreen = #069d11
colorDeepRed = #800000
colorMidRed = #c50808
colorLavendar = #8d4dff
colorDarkGreen = #016808
colorTrans = color.new(colorBlack, 100)
colorTransGreen = color.new(colorGreen, 80)
colorTransRed = color.new(colorRed, 80)

//-- Inputs

myPeriod = input(defval=14, title='Period')
myThresholdUp = input(defval=70, title='Upper Threshold')
myThresholdDn = input(defval=30, title='Lower Threshold')
myAlgoFlipToggle = input(defval=false, title='Imverse Algorthim')
myLineToggle = input(defval=true, title='Show Lines')
myLabelToggle = input(defval=true, title='Show Labels')

myRSI = ta.rsi(close, myPeriod)

//-- Variables

buy = myAlgoFlipToggle ? ta.falling(myRSI, 1) and ta.cross(myRSI, myThresholdDn) : ta.rising(myRSI, 1) and ta.cross(myRSI, myThresholdUp)
sell = myAlgoFlipToggle ? ta.rising(myRSI, 1) and ta.cross(myRSI, myThresholdUp) : ta.falling(myRSI, 1) and ta.cross(myRSI, myThresholdDn)

var myPosition = 0

myPosition := buy == 1 ? 0 : sell == 1 or myPosition[1] == 1 ? 1 : 0

trendColor = buy ? colorTransRed : sell ? colorTransGreen : na

var isLong = false
var isShort = false

buySignal = not isLong and myLabelToggle ? buy and myPosition[1] == 1 ? low - 0.005 : na : na  // Buy only if we are not already long
sellSignal = not isShort and myLabelToggle ? sell and myPosition[1] == 0 ? high + 0.005 : na : na  // Sell only if we are not already short

if buySignal
    isLong := true
    isShort := false
    isShort

if sellSignal
    isLong := false
    isShort := true
    isShort

//-- Plots

plot(myLineToggle ? buy and myPosition[1] == 1 ? low - 0.004 : sell and myPosition[1] == 0 ? high + 0.004 : na : na, color=trendColor, linewidth=4, editable=false)

plotshape(series=buySignal, style=shape.labelup, location=location.belowbar, color=colorGreen, size=size.tiny, editable=true, text='Long', textcolor=color.new(color.black, 0), title='Long Label')
plotshape(series=sellSignal, style=shape.labeldown, location=location.abovebar, color=colorRed, size=size.tiny, editable=true, text='Short', textcolor=color.new(color.white, 0), title='Short Label')

//-- Alerts

alertcondition(buySignal, title='Long', message='Long  @ {{close}}')
alertcondition(sellSignal, title='Short', message='Short  @ {{close}}')