The "Multi Time Frame RSI Panel" indicator is a powerful tool designed to help traders analyze the Relative Strength Index (RSI) across multiple timeframes simultaneously. While the core logic of this indicator is proprietary, this description aims to provide traders with an understanding of its functionality and utility.
Key Features:
Multi-Timeframe Analysis: This indicator displays RSI values for different timeframes, including 1 minute (1m), 5 minutes (5m), 15 minutes (15m), 30 minutes (30m), 1 hour (1h), 2 hours (2h), 4 hours (4h), and 1 day (1d). Traders can choose which timeframes to display on their chart based on their trading strategy.
Customizable Thresholds: Users can set upper and lower RSI thresholds for each timeframe, allowing for the identification of overbought and oversold conditions. The indicator highlights RSI values that breach these thresholds in green (for overbought) or red (for oversold), providing visual cues for potential trading opportunities.
How to Use:
1. Add the "Multi Time Frame RSI Panel" indicator to your TradingView chart. 2. Configure the settings by selecting the timeframes you want to monitor and setting your preferred RSI thresholds. 3. Monitor the RSI values for each selected timeframe in the panel located at the top right corner of your chart. 4. Look for potential trading signals based on RSI conditions, such as overbought or oversold levels, across different timeframes.
Release Notes
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I have added the weekly and monthly RSI, but TradingView can only create 9 rows, so a maximum of 7 timeframes can be activated at the same time.
Release Notes
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I'm sorry, I made a mistake. There can be 8 timeframes activated at the same time.
Release Notes
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Thanks to a tip from RDreesmann, I was able to solve the problem with the timeframe limit. I also added the option of changing the number of periods of the RSI.
Dear Mr. Rami _LB : thank yoy very much for this indicater, it would be of great hely for a invester to have daily weekly and montHLY also. Thanking you once again
Rami_LB
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@chugani, I have added the weekly and monthly RSI, but TradingView only allows tables with 9 rows. Therefore only 8 timeframes can be activated at the same time. So you have to decide which timeframes are most important for you to avoid error messages. And the daily timeframe was already available.
RDreesmann
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@Rami_LB, Are you sure? - just tried it and it works, I changed following in the code: var table panel = table.new("top_right", 2, 9) to var table panel = table.new("top_right", 2, 11). I also made the period a variable input. I like period of 6 and/or 9 in teh RSI calculation.
Rami_LB
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@RDreesmann, Thanks for your tip. I misinterpreted the error. I have now changed it and added the RSI period in the settings. Kind regards
It is so usefull
Congratulations