OPEN-SOURCE SCRIPT
ELITE QUADRO STOCH RSI
It shows 4 different Stochastic RSI and when all of them are oversold / overbought it gives buy (blue) or sell (pink) signals.
This way by multipling basic periods you can monitor another timeframes.
For Example:
15 minutes - 14 (as a basic period)
1 hour - 14 x 4 = 56
4 hour - 14 x 4 x 4 = 224
1 day - 14 x 4 x 4 x 8 = 1792
But i recommend use it for close timeframe:
5M , 15M, 30M and 1H (to trade on 5M);
or 15M, 30M, 1H and 4H (to trade on 15M)
This way by multipling basic periods you can monitor another timeframes.
For Example:
15 minutes - 14 (as a basic period)
1 hour - 14 x 4 = 56
4 hour - 14 x 4 x 4 = 224
1 day - 14 x 4 x 4 x 8 = 1792
But i recommend use it for close timeframe:
5M , 15M, 30M and 1H (to trade on 5M);
or 15M, 30M, 1H and 4H (to trade on 15M)
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 publications is governed by House rules. You can favorite it to use it on a chart.
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