4x MTF RSI - by Redjinator
4x Multi-Timeframe RSI - by Redjinator (August 2019)
This is a new version of an old indicator of mine and has been updated for a much more accurate reading of timeframes greater than the on screen chart.
Features of this indicator are:
- under the hood it uses pine script v 4.0
- repainting issues normally caused by pulling data from higher timeframes has been eliminated.
- ability to plot up to RSI signals at one time.
- customized timeframe selection per RSI.
- ability to plot an average of the 4 customized RSI signals.
- visualized heatmapping for any selected RSI signal (including the average).
- by default it very closely resembles the clean look of a default RSI indicator.
I will be releasing more indicators for public use in the near future.
Thank you for viewing my work, I hope you find it useful!
-Redjinator
Looking for something more than my scripts of convenience? Check out Ape for long/short signals here: https://discord.gg/2uJjBFZ
Do you like my work? Want to send me a BTC tip? - BTC Address: 14JXjyVRruvUTwWPjEtzthapfLqgM1Qj6E
This is a new version of an old indicator of mine and has been updated for a much more accurate reading of timeframes greater than the on screen chart.
Features of this indicator are:
- under the hood it uses pine script v 4.0
- repainting issues normally caused by pulling data from higher timeframes has been eliminated.
- ability to plot up to RSI signals at one time.
- customized timeframe selection per RSI.
- ability to plot an average of the 4 customized RSI signals.
- visualized heatmapping for any selected RSI signal (including the average).
- by default it very closely resembles the clean look of a default RSI indicator.
I will be releasing more indicators for public use in the near future.
Thank you for viewing my work, I hope you find it useful!
-Redjinator
Looking for something more than my scripts of convenience? Check out Ape for long/short signals here: https://discord.gg/2uJjBFZ
Do you like my work? Want to send me a BTC tip? - BTC Address: 14JXjyVRruvUTwWPjEtzthapfLqgM1Qj6E
Nota Keluaran:
An example of 2 rsi from different timeframes is shown. The 15m and 60m with 0 repainting.
An example of 2 rsi from different timeframes is shown. The 15m and 60m with 0 repainting.
Nota Keluaran:
Seems there was a bug upon further testing, so I've reverted the script back to the old method for calculating higher timeframe rsi values.
Unfortunately it means there will be the "stepping" factor caused by a type of repainting that will only grab rsi values from the close of the higher timeframe.
However, this doesn't make the script un-useable as you can still get a fairly accurate idea of where the rsi is from any higher timeframe conveniently from whatever chart your viewing from, and in the end this indicator is primarily for that exact convienience.
Also, the heatmapping of the rsi is a real nice way of getting a feel for whats going on at a quick glance. Personally I like to set up 4 different rsi timeframes that are still close together, such as 5/15/30/60 mins as an example, and then turn on heatmapping for the avg of all 4 whilst still only displaying the rsi for my current chart. This has brought my perspective back and saved me many many times.
Unfortunately it means there will be the "stepping" factor caused by a type of repainting that will only grab rsi values from the close of the higher timeframe.
However, this doesn't make the script un-useable as you can still get a fairly accurate idea of where the rsi is from any higher timeframe conveniently from whatever chart your viewing from, and in the end this indicator is primarily for that exact convienience.
Also, the heatmapping of the rsi is a real nice way of getting a feel for whats going on at a quick glance. Personally I like to set up 4 different rsi timeframes that are still close together, such as 5/15/30/60 mins as an example, and then turn on heatmapping for the avg of all 4 whilst still only displaying the rsi for my current chart. This has brought my perspective back and saved me many many times.
Nota Keluaran:
Another small update, nothing changed function wise. Just code clean up for my own use.
Nota Keluaran:
Final update until I work out how to remove the stepping of really high timeframes, it shouldn't be an issue unless your trying to show the daily RSI on the 15m chart or some other extreme differences of timeframes.