INVITE-ONLY SCRIPT
RSI_Grid
Uses oversold/overbought conditions of RSI on multiple time frames to provide buy/sell signals.
Important points:
1. The highest time frame of the grid should be the one you are viewing on the chart. This helps avoid false signals.
2. The time frame inputs work on minutes, so if you want a 2 hour time frame you should input 120.
3. This DOES re-paint, but only up to the highest tf. For example, using the default settings, you should have a 1H chart and refresh the chart with F5 each hourly candle switch.
4. The red indicates oversold, green is overbought, grey is within normal range. The default alert condition is 4, this means when 4 time frames print overbought/sold and the next candle prints with less than 4 in an overbought/sold condition, an alert will trigger.
5. Pink is buy, blue is sell.
This is still a work in progress, but I kind of abandoned it once I realised how Tradingview plots indicators based on two different times (past and present). I can link an article if you are interested in the reasons why TV does this.
Important points:
1. The highest time frame of the grid should be the one you are viewing on the chart. This helps avoid false signals.
2. The time frame inputs work on minutes, so if you want a 2 hour time frame you should input 120.
3. This DOES re-paint, but only up to the highest tf. For example, using the default settings, you should have a 1H chart and refresh the chart with F5 each hourly candle switch.
4. The red indicates oversold, green is overbought, grey is within normal range. The default alert condition is 4, this means when 4 time frames print overbought/sold and the next candle prints with less than 4 in an overbought/sold condition, an alert will trigger.
5. Pink is buy, blue is sell.
This is still a work in progress, but I kind of abandoned it once I realised how Tradingview plots indicators based on two different times (past and present). I can link an article if you are interested in the reasons why TV does this.
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Arahan penulis
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Penafian
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