MTF RSI Candles

18 Jan

This Pine Script indicator is designed to provide a visual representation of Relative Strength Index (RSI) values across multiple timeframes. It enhances traditional candlestick charts by color-coding candles based on RSI levels, offering a clearer picture of overbought, oversold, and sideways market conditions. Additionally, it displays a hoverable table with RSI values for multiple predefined timeframes.

Key Features
1. Candle Coloring Based on RSI Levels:

• Candles are color-coded based on predefined RSI ranges for easy interpretation of market conditions.
  
• RSI Levels:
  
• 75-100: Strongest Overbought (Green)
  
• 65-75: Stronger Overbought (Dark Green)
  
• 55-65: Overbought (Teal)
  
• 45-55: Sideways (Gray)
  
• 35-45: Oversold (Light Red)
  
• 25-35: Stronger Oversold (Dark Red)
  
• 0-25: Strongest Oversold (Bright Red)
  

2. Multi-Timeframe RSI Table:

• Displays RSI values for the following timeframes:
  
• 1 Min, 2 Min, 3 Min, 4 Min, 5 Min
  
• 10 Min, 15 Min, 30 Min, 1 Hour, 1 Day, 1 Week
  
• Helps traders identify RSI trends across different time horizons.
  

3. Hoverable RSI Values:

• Displays the RSI value of any candle when hovering over it, providing additional insights for analysis.
  

Inputs
1. RSI Length:

• Default: 14
  
• Determines the calculation period for the RSI indicator.
  

2. RSI Levels:

• Configurable thresholds for RSI zones:
  
• 75-100: Strongest Overbought
  
• 65-75: Stronger Overbought
  
• 55-65: Overbought
  
• 45-55: Sideways
  
• 35-45: Oversold
  
• 25-35: Stronger Oversold
  
• 0-25: Strongest Oversold
  

How It Works:

1. RSI Calculation:

• The RSI is calculated for the current timeframe using the input RSI Length.
  
• It is also computed for 11 additional predefined timeframes using request.security.
  

2. Candle Coloring:

• Candles are colored based on their RSI values and the specified RSI levels.
  

3. Hoverable RSI Values:

• Each candle displays its RSI value when hovered over, via a dynamically created label.
  
• Multi-Timeframe Table:
  

• A table at the bottom-left of the chart displays RSI values for all predefined timeframes, making it easy to compare trends.
  

Usage:

1. Trend Identification:

• Use candle colors to quickly assess market conditions (overbought, oversold, or sideways).
  

2. Timeframe Analysis:

• Compare RSI values across different timeframes to determine long-term and short-term momentum.
  

3. Signal Confirmation:

• Combine RSI signals with other indicators or patterns for higher-confidence trades.
  

Best Practices

• Use this indicator in conjunction with volume analysis, support/resistance levels, or trendline strategies for better results.
  
• Customize RSI levels and timeframes based on your trading strategy or market conditions.
  
  Limitations
• RSI is a lagging indicator and may not always predict immediate market reversals.
  
• Multi-timeframe analysis can lead to conflicting signals; consider your trading horizon.
  

26 Jan

Nota Keluaran

1. Color-Coded RSI Candles: You are already using the color cueing technique to highlight different RSI zones using colors (from #00ff08 for the strongest overbought to #ff1100 for the strongest oversold). This provides a clear visual indication of how the RSI value impacts the candles.
   
3. Table for RSI Values: The table dynamically updates based on the multiple timeframes you’ve selected, which is useful for tracking RSI across different timeframes. It colors each RSI value according to the user-defined levels, improving the usability of the data at a glance.
   
5. Multi-timeframe RSI: You’ve set up the multi-timeframe RSI calculation, which provides RSI values for multiple timeframes such as 1-minute, 5-minute, 15-minute, and daily. This gives a broader view of market conditions.
   
7. Alerts: The alert conditions set for specific RSI values (e.g., RSI above 75, below 25, in oversold or overbought zones) help in notifying you when the market enters a significant condition. This is an essential feature for live trading.
   

5 Apr

Nota Keluaran

🚀 Features
RSI-Colored Candles: Candlesticks are dynamically color-coded based on RSI levels for quick sentiment analysis.

Multi-Timeframe RSI Table: Customizable display of RSI values across selected timeframes (1m to Monthly).

RSI Divergence Detection: Detects Bullish and Bearish divergences based on RSI vs price action.

Hover Labels: Interactive labels showing RSI and divergence details near candles.

EMA Trend Filter: Uses a 50 EMA to filter bullish/bearish trend conditions.

Background Alerts: Color zones when divergence is detected.

Webhook-Compatible Alerts: Alerts for key RSI levels and divergence signals.

Custom RSI Ranges: Tailor color levels for overbought, neutral, and oversold zones.

Label Offsets: Position RSI labels with ATR-based vertical and bar-based horizontal control.🎨 RSI Candle Coloring Scheme
Candles change color based on RSI value:

✅ 75 - 100 → Bright Green (Extreme Overbought)

✅ 65 - 75 → Dark Green

✅ 55 - 65 → Teal (Bullish)

⚪ 45 - 55 → Gray (Neutral/Sideways)

🟥 35 - 45 → Light Red (Bearish)

🟥 25 - 35 → Dark Red

⛔ 0 - 25 → Bright Red (Extreme Oversold)

🧠 Divergence Logic
Bullish Divergence: Price makes a lower low, but RSI makes a higher low.

Bearish Divergence: Price makes a higher high, but RSI makes a lower high.

Background turns green/red on detection and label will reflect divergence type.

🧰 Custom Inputs
RSI Length

RSI Level Thresholds

Timeframes for MTF RSI Table

Table Placement (Top/Bottom, Left/Right)

Show/Hide Neutral RSI Labels

Enable/Disable Divergence Alerts

Label Offset (Bars and ATR)

🔔 Alerts Included
RSI crosses above 80 → "Extreme Overbought"

RSI crosses below 20 → "Extreme Oversold"

Bullish RSI Divergence Detected

Bearish RSI Divergence Detected

Use these alerts with webhook automation for custom notifications or bot triggers.

⚙️ Recommended Use
Combine this with trend indicators (e.g., EMAs or market structure tools).

Look for confluence between divergence signals, MTF RSI, and trend bias.

Monitor the RSI summary table for higher timeframe confirmation.

📘 Notes
Built using Pine Script v6

Optimized for overlay view

Suitable for any asset class (Stocks, Crypto, Forex, Futures)

Add the Indicator to your chart:

Click on Indicators → Invite-Only Scripts (or My Scripts) → Select Enhanced MTF RSI Candles-Sq

Watch RSI-Colored Candles:

Candle colors will instantly reflect RSI strength — green for bullish strength, red for bearish pressure, and gray for neutral zones.

Quickly assess if the market is trending or ranging just by glancing at candle color gradients.

Use the RSI Summary Table:

Located at the top-right by default.

Displays RSI values from multiple timeframes (e.g., 1h, 4h, 1D, 1W).

Look for confluence: e.g., if both 4h and 1D RSI are above 70, expect strong bullish momentum.

Spot Divergences Automatically:

When RSI diverges from price (e.g., price makes new highs but RSI doesn’t), colored labels will appear.

The chart background flashes briefly green (bullish) or red (bearish) on divergence detection.

Use Alerts:

Right-click → Add alert on this indicator.

Choose from RSI crossing levels (like 20/80) or divergence detection (bullish/bearish).

Perfect for automation/webhook bots or mobile push notifications
🎛️ Fine-Tuning RSI Sensitivity
Reduce RSI length (e.g., from 14 to 7) to increase responsiveness for short-term scalping.

Increase RSI length (e.g., 21+) to smooth out noise for swing or position trades.

🖌️ Customizing RSI Zones
Adjust thresholds under "RSI Thresholds":

Example: Set Overbought at 65 and Oversold at 35 for crypto or volatile assets.

Lower thresholds (e.g., 60/40) = more frequent signals, higher sensitivity.

🧩 Configure the MTF Table
Toggle which timeframes you want in the RSI summary table — remove noise or add higher TFs (e.g., Weekly).

Switch positions (top-left, bottom-right) if it overlaps other indicators.

🕵️‍♀️ Advanced Divergence Filters
Combine the divergence detection with trend filters (like EMA50 on higher TF) to reduce false positives.

Use divergence only against RSI extremes (e.g., bullish divergence only when RSI < 30) for higher accuracy.

📏 Adjust Divergence Label Placement
Increase Vertical Offset (ATR) and Horizontal Offset (Bars) if labels overlap with candles.

You can align divergence labels further away from price in congested price zones.

⚡ Pair with Smart Money Concepts (SMC)
Use this indicator alongside OB/BOS/FVG tools for extra confluence:

RSI divergence + price in OB = potential reversal

MTF RSI overbought + BOS = possible trend change