pranjalchaubey

[CP]3 RSI Multi Timeframe Inception

Triple RSI indicator where you can set the timeframe for each RSI .
Take confirmation from different timeframes to make high probability trades!

Typical settings would be,
1 Day, 1 Week, 1 Month or
1 hr , 4hr, 1 Day or
3 min, 15 min, 1 hr or.........your imagination is the only limit here!
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

hi , can you code multi level RSI indicator which enable us to plot horizontal line for different level , say 30, 40, 50 60, 70 etc
+1 Reply
halo sir, I try to make another indicator like yours 3 Rsi indicator multi time frame for Stoch oscilator, but it doesn't show the 2'nd time frame correctly, please take a look and kindly help....

//@version=4
// 2 Stochs from different timeframes
study(title="2 Stochs Multi Timeframe Inception", shorttitle="2 Stochs", overlay=false)

// Stoch 1
//==============================================================================
// Visibility
vis1 = input(true, title="Enable Stoch 1")
// Smoothing
smooth1 = input(title="Smooth Stoch 1", type=input.bool, defval=false)
// Timeframe
res1 = input(title="Stoch 1 Timeframe", type=input.resolution, defval="1")
// Period
periodK = input(14, title="K", minval=1)
periodD = input(3, title="D", minval=1)
smoothK = input(3, title="Smooth", minval=1)
// Source
k = sma(stoch(close, high, low, periodK), smoothK)
d = sma(k, periodD)
// Plots
plot(k, title="%K", color=color.green)
plot(d, title="%D", color=color.red)

// Stoch 2
//==============================================================================
// Visibility
vis2 = input(true, title="Enable Stoch 2")
// Smoothing
smooth2 = input(title="Smooth Stoch 2", type=input.bool, defval=true)
// Timeframe
res2 = input(title="Stoch 2 Timeframe", type=input.resolution, defval="15")
// Period
periodK1 = input(14, title="K1", minval=1)
periodD1 = input(3, title="D1", minval=1)
smoothK1= input(3, title="Smooth1", minval=1)
// Source
K1 = sma(stoch(close, high, low, periodK1), smoothK1)
D1 = sma(k, periodD1)
// Plots
plot(k, title="%K1", color=color.green)
plot(d, title="%D1", color=color.red)

// Stoch Levels
//==============================================================================
// Visibility
level_vis = input(false, title="Show Stoch Levels?")
// Plot the Levels
hline(price=80, title='80 Level', color=level_vis ? color.gray : na, linestyle=hline.style_dashed, linewidth=1)
hline(price=50, title='50 Level', color=level_vis ? color.gray : na, linestyle=hline.style_dashed, linewidth=1)
hline(price=20, title='20 Level', color=level_vis ? color.gray : na, linestyle=hline.style_dashed, linewidth=1)
Reply
Over time using this indicator I have realized that it is phenomenally good at catching market tops and bottoms, but not so good at catching the trends.
So I recommend using it for catching tops and bottoms, instead of using it to ride the trend.
Reply
murfichan pranjalchaubey
@pranjalchaubey, thank you so much sir, I actually try to do this by adding 3 RSI indicators and yes I also have same thinking that this indicator is really good to read bottom and top position but for to follow trend have to combine it by Moving average lines. Ah actually we also can see the trend if we know how to adjust the value of the RSI value.
+1 Reply
Yes, you can use RSI range shift to catch the trend. However, I find it very discretionary and subjective in nature.
Moving Averages would be the right approach with this indicator.
Reply
murfichan pranjalchaubey
@pranjalchaubey, can I ask for help for one of my simple script sir?
Reply
Sir, Plz tell me how can i change time frames..Thanks a lot for the coding
Reply
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