This indicator will populate an RSI chart for multiple timeframes on the same chart.
Current Timeframe
15-min
1-hr
4-hr
1D
The point is to more easily see when things are getting oversold or overbought across multiple timeframes at the same time. To help with that, the background will also color green if all your selected timeframes are oversold and red if all your selected timeframes are overbought.
Note: It will only display and use the background colors on your current timeframe and timeframes larger than the current timeframe. So if you are looking at the 4-hr, the 15-min and 1-hr are ignored.
Notas de prensa
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I added a divergence indicator to this that will monitor the current time frame and plot any divergences on that RSI graph.
Hi, millerrh. Could you add option to select different length for each specific timeframe. That would be great. Thank You!
millerrh
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@multialtiverse, Hi, that's a good idea. I think I should also customize the ability for the user to select which timeframe they want to look at. I'll consider adding both of those changes to this script and putting that in my backlog. Not sure when I'll get to it, but I have it written down now.
ndovgaluk
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Hi, millerrh Would be great if you could add an alert to this indicator. That would be fantastic. For you It's just a couple of lines of pine script, but so much value for those who'll use your great work!!!! Or even if you could share the code I could add it by myself for my local copied version. In any case it's a great divergence indicator.
millerrh
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@ndovgaluk, What sort of alert are you thinking of that this can't do already? I just tried to create an alert from it and it allows you to select any of the RSI variables and alert when they cross a certain level already.
ndovgaluk
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@millerrh, all good. I've implemented similar indicator. It's handy to have rsi alerts on lower timeframes ~30M when divergence identified.
aamersaeed2368
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Hi Miller, Another nice indicator of yours. Can you help me code a setup?? The setup is Buy Signal:- 1. A red dominant candle ( we can find it on the basis of 80% body and 20% wicks). 2. After the dominant candle there should at least two(red or green doesn't matter) candles within the body of dominant candle. 3. The third candle will break the dominant candle and close above the body of the dominant candle.
So far I have coded this because I don't know about coding and script I search on google and write a little bit.
@aamersaeed2368, You can reference previous historical candles by using square brackets where the number inside the bracket is the number of bars back. I tried posting a quick example here, but for some reason, this is stripping out the brackets and not displaying correctly, so hope that gets you on the right track.
bauteabbondio94
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Thank you Sir, i was thinking of watching them separately but this does the job, thanks again!
ajaybabu7885
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Hi, can you please add option to select sma, ema on your multi time frame RSI. This is very useful. Thank you.
millerrh
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@ajaybabu7885, Can you describe how you would use this? I don't see the value of having an average RSI on the chart...that would be super slow to react to. You already have a length period you can increase if you want to slow it down. Does that not do what you are looking for?