Multi-Asset & TF RSI

Multi-Asset & TF RSI

This indicator allows you to compare the Relative Strength Index (RSI) values of two different assets across multiple timeframes in a single pane. It’s ideal for traders who wish to monitor momentum across different markets or instruments simultaneously.

Key Features:

Primary Asset RSI:
The indicator automatically calculates the RSI for the chart’s asset. You can adjust the timeframe for this asset using a dropdown that offers standard TradingView timeframes, a "Chart" option (which syncs with your current chart timeframe), or a "Custom" option where you can enter any timeframe.

Optional Second Asset RSI:
Enable the “Display Second Asset” option to compare another asset’s RSI. Simply select the symbol (default is “DXY”) and choose its timeframe from an identical dropdown. When enabled, the second asset’s RSI is computed and plotted for easy comparison.

RSI Settings:
Customize the RSI length and choose the data source (e.g., close price) to suit your trading strategy.

Visual Aids:
Overbought (70) and oversold (30) levels are clearly marked, along with a midline at 50. These visual cues help you quickly assess market conditions.

Asset Information Table:
A dynamic table at the top of the pane displays the symbols being analysed – the chart’s asset as the “1st” asset and, if enabled, the second asset as the “2nd.”

How to Use:

Apply the Indicator:
Add the indicator to your chart. By default, it will calculate the RSI for the chart’s current asset using your chart’s timeframe.

Adjust Primary Asset Settings:
Use the “Main Asset Timeframe” dropdown to choose the timeframe for the RSI calculation on the chart asset. Select “Chart” to automatically match your current chart’s timeframe or choose a preset/custom timeframe.

Enable and Configure the Second Asset:
Toggle the “Display Second Asset” option to enable the second asset’s RSI. Select the asset symbol and its desired timeframe using the provided dropdown. The RSI for the second asset will be plotted if enabled.

Monitor the RSI Values:
Observe the plotted RSI lines along with the overbought/oversold levels. Use the table at the top-centre of the pane to verify which asset symbols are being displayed.

This versatile tool is designed to support multi-asset analysis and can be a valuable addition to your technical analysis toolkit. Enjoy enhanced RSI comparison across markets and timeframes!

Happy Trading!