Bars Since the last RSI Extreme
This is something Jamie Saettele pointed out. Gold has been in 'neutral' RSI territory for its longest stretch in four years. It's coiling up for its next major move.
study("Bars Since the last RSI Extreme")
rsivalue = rsi(close, input(14, "RSI Period"))
rsiextremevaluelow = input(30, "Define Oversold")
rsiextremevaluehigh = input(70, "Define Overbought")
rsiextreme = (rsivalue >= rsiextremevaluehigh) or (rsivalue <= rsiextremevaluelow)
plot(series=barssince(rsiextreme), title="Bars Since the last RSI Extreme", color=blue, style=histogram, linewidth=2)
//Credit for this indicator goes to Jamie Saettele