Added:
Multi Timeframe Stochastic RSI
Stochastic RSI across multiple timeframes provide Stochastic RSI readings from the 1-minute, 15-minute, and 1-hour charts, this tool offers a multi-dimensional analysis that enhances decision-making for both short-term and medium-term trading strategies.
This indicator stands out by presenting an average value of these readings, allowing traders to gauge the overall market sentiment more effectively. By assessing whether the average Stochastic RSI is above or below certain thresholds for 1m/15m and 60m timeframe, traders can identify potential overbought or oversold conditions, enabling them to anticipate market reversals with greater confidence.
Furthermore, the indicator includes a dynamic table display that summaries the Stochastic RSI values and their average in a clear and concise manner. This table is equipped with conditional background colouring to visually signify different market conditions, making it easier for traders to digest complex information at a glance.
Stoch RSI colouring (range 100-1):
1m/15m/60m:
Red - between 100-50
Orange - between 49 and 20
Green - between 19 and 1
Entry:
Red - 100-20
Green - 19-1
The inclusion of an alert system adds another layer of functionality, enabling traders to receive notifications when the average Stochastic RSI crosses predefined levels. This feature ensures that traders do not miss potential trading opportunities, even when they are not actively monitoring the markets.
Multi Timeframe Stochastic RSI can be toggle on/off in menu option.