This enhanced RSI (Relative Strength Index) indicator for NinjaTrader goes beyond the basics, offering dynamic features for both seasoned traders and beginners. The RSI line changes color based on standard deviation: green when it moves more than one standard deviation above the mean, red when it moves more than one standard deviation below the mean, and gray when it remains within the mean range. The green and red colors highlight momentum shifts outside the norm, helping you decide whether to enter or exit a trade based on this indicator and other factors, such as price action. All are fully customizable in the properties box.

The indicator includes standard overbought and oversold levels, extended 80/20 extreme levels, and a configurable 50-level midline, all fully customizable in the properties box. Additionally, it offers the ability to set alerts directly in the properties dialog panel for any of the key levels, ensuring you stay informed of critical market movements.

In the zip file you will find a Readme that goes into great detail about how the indicator works and why it works the way it works.​