Recently we got new features in Pine such Arrays of Lines, Labels and Strings. Thanks to the Pine Team! (here)
So I decided to make new style of Multi Time Frame indicator and I used Array of Lines in this script. here it is, RSI Multi Time Frame script. it shows RSI for current time frame as it is and also it gets RSI for the Higher Time Frame and converts it and shows it as in time frame. as you can see, RSI for HTF moves to the right on each candle until higher time frame was completed.
You have color and line width options for both RSI, also if you want you can limit the number of bars to show higher time frame RSI by the option "Number of Bars for RSI HTF", following example show RSI HTF for 100 bars.
Most of you know that old style Multi Time Frames indicators was like:
Hope you like this new Multi time frame style ;)
Enjoy!
Release Notes
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Added Auto Higher Time Frame Option. Now the script can choose Higher Time Frame automatically or you can set it manually.
hi thanks for posting this. I tried it but it seems off. I changed the High timeframe to "Day", and I compared it with a 1 year view RSI. On Dec 16, 2020, the 1 year view RSI is showing 64 for SPX, but with your pine script, it's showing 75-80. Not sure if I doing this right.
pben369
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Thanks for the this superb script!. One simple test i did.. As i understand this script should display the current tf rsi and another rsi of user's choice. Just for sake of testing, I selected the HTF as 5min on BANKNIFTY (today date 23rd May 2022) post market hrs.. in below steps I move the chart through different timeframe to check the if the displayed HTF rsi value remains same. Step 1. 3min TF, the rsi of HTF value = 20.96 Step 2. 5min TF, the rsi of HTF value = 20.96 Step 3. Change chart TF to 15 min, the rsi of HTF ( which still remains as 5min) = 24.06 Step 4. This value of 24.06 remains same till I change TF to 4h, where it is 50.59
Why this is happening, why does the code fails to compute the values of different time frames consistently?
scriptscalpersportal
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nice update bro! salute..
dgtrd
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just superb!
LonesomeTheBlue
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@dgtrd, thank you mate, glad to hear such nice words from you :)
Pratik_4Clover
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Really nice, thank you :)
RafaelZioni
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maybe you solve for us the repaint issue?:) nice .
LonesomeTheBlue
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@RafaelZioni, not exactly, this maybe another dimension of MTF :)
Minimal_Est
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@LonesomeTheBlue, nice script, but how can it be used to backtest if it goes back max 100 bars ?