RSI Overbought/Oversold multiple times over 40 bars

Haven’t tested this. But it should do the trick:

input length = 14;
input overBought = 70;
input overSold = 30;
input price = close;
input averageType = AverageType.WILDERS;
def netChgAvg = MovingAverage(averageType, price - price[1], length);
def totChgAvg = MovingAverage(averageType, AbsValue(price - price[1]), length);
def chgRatio = if totChgAvg != 0 then netChgAvg / totChgAvg else 0;
def rsi = 50 * (chgRatio + 1);
def rsiOverBought = rsi > overBought;
def rsiOverSold = rsi < overSold;
def rsiSum = Sum(rsiOverBought, 40) + Sum(rsiOverSold, 40);
plot scan = rsiSum > 3;