RSI MTF for position trading

This script computes the Relative Strength Indicator ( RSI ) for multiple timeframes: current resolution (1H), 2H, 4H and 1D.
Add it to your 1H chart - This is important!

It is highly flexible: the time resolutions can changed - except for the current resolution of the chart.
The lookback periods for all timeframes are set to 14 - but they can be changed as desired.

3 levels of overbought (70, 80 and 90) and oversold (30, 20 and 10) are defined and highlighted.

Also, when any of the RSI series goes into overbought or oversold, they change colour: teal for oversold and fuchsia for overbought.


Tip if you find it useful:
May 18
Notas de prensa: Simplified version of the previous script, I basically took off the 6 levels of overbought and oversold as it was making the main area of the chart to become very small.
Also, filled in the 30 to 70% space.
May 18
Notas de prensa: I added independent timeframe for the 1H RSI - no longer assumed to be the default timeframe. Therefore, even if one applies the indicator to a 15Min chart, it will still show the RSI series for 1H, 2H, 4H and 1D.
Also, cleaned the code for the overbought and oversold and added the midline at 50 to ease the reading.
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Disclaimer: This is not investment advice. If you like the analyses/signals, donations are welcomed.
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