OPEN-SOURCE SCRIPT
Multiple RSI
Updated
Title: MultiRSI: A Versatile Multi-Timeframe RSI Indicator
Short Description:
A powerful RSI-based indicator that incorporates three RSI lengths (Fast, Medium, and Slow) to help traders analyze trends, momentum, and potential reversals with clear visual signals.
Full Description:
Overview:
The MultiRSI script provides traders with a dynamic tool to assess market conditions across multiple RSI timeframes. It calculates Fast, Medium, and Slow RSI values, assigns meaningful colors based on trend analysis, and highlights key crossover points for actionable insights.
Key Features:
Triple RSI Display:
Trend Analysis:
Color-coded RSI lines:
Crossover Signals:
Customizable Inputs:
Usage Scenarios:
How It Works:
The script compares the Fast RSI against the Medium RSI and the Medium RSI against the Slow RSI to determine short-, medium-, and long-term trends. Crossovers between Medium and Slow RSI values signal potential momentum shifts.
Visualization:
License:
This script is open-source under the Mozilla Public License 2.0. Feel free to use, modify, and share!
Short Description:
A powerful RSI-based indicator that incorporates three RSI lengths (Fast, Medium, and Slow) to help traders analyze trends, momentum, and potential reversals with clear visual signals.
Full Description:
Overview:
The MultiRSI script provides traders with a dynamic tool to assess market conditions across multiple RSI timeframes. It calculates Fast, Medium, and Slow RSI values, assigns meaningful colors based on trend analysis, and highlights key crossover points for actionable insights.
Key Features:
Triple RSI Display:
- Fast RSI (default: 8): Ideal for capturing short-term momentum.
- Medium RSI (default: 12): Provides a balanced perspective.
- Slow RSI (default: 16): Helps identify longer-term trends.
Trend Analysis:
Color-coded RSI lines:
- Green, blue, and aqua for uptrends.
- Yellow, orange, and red for potential downtrends.
- Visual differentiation for easy interpretation.
Crossover Signals:
- Upward Cross (triangle up): Indicates potential bullish momentum.
- Downward Cross (triangle down): Suggests possible bearish momentum.
- Marked directly on the chart for clarity.
Customizable Inputs:
- Adjust RSI lengths to suit your trading strategy.
- Grouped input settings for a seamless configuration experience.
Usage Scenarios:
- Identify trend strength and reversals in different timeframes.
- Spot key momentum shifts with crossover signals.
- Combine with other indicators for a comprehensive trading strategy.
How It Works:
The script compares the Fast RSI against the Medium RSI and the Medium RSI against the Slow RSI to determine short-, medium-, and long-term trends. Crossovers between Medium and Slow RSI values signal potential momentum shifts.
Visualization:
- Clear, color-coded plots for the three RSI levels.
- Highlighted crossovers for quick decision-making.
License:
This script is open-source under the Mozilla Public License 2.0. Feel free to use, modify, and share!
Release Notes
Bug FixOpen-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 publication is governed by House rules. You can favorite it to use it on a chart.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.