The code is purely based on Relative Strength Indicator and the reason to amend is updating when the currency pair comes out from extreme oversold and overbought.
It can be used on any timeframe, but I recommend to attach this indicator on high timeframes. I checked this all is good instead of repaint.
I request if anyone will solve the repaint issue, I will be really thankful to him.
When reading crossed overbought or oversold levels and returning from medium or extreme level, user will get a signal as a buy or sell arrow.
Pending Order is an order that will be executed if the price touches a point that we specify, in other words open pending order means ordering to open a position at a certain price level. So if price hits a predetermined level, then automatically we have an open trading positions.MACDChannels
This indicator shows MACD in the main chart.