BANKNIFTY list of stocks RSI trend on multi time frame

The BANKNIFTY list of stocks RSI trend on multi time frame indicator provides a comprehensive dashboard for monitoring the RSI-based trend of the Bank Nifty index and its major constituent stocks across three different timeframes simultaneously. This tool helps traders quickly identify bullish or bearish momentum shifts across the entire Indian banking sector from a single chart view.

Usage

The dashboard displays a table containing the Bank Nifty index and up to nine additional constituent stocks (defaults include HDFC Bank, ICICI Bank, Axis Bank, etc.). For each symbol, the script calculates the RSI across three user-defined timeframes and categorizes the trend based on threshold levels:

• Bullish: If the RSI is above the specified bullish threshold (default 70), the cell turns green and displays "BULL".
• Bearish: If the RSI is below the specified bearish threshold (default 30), the cell turns red and displays "BEAR".
• Neutral: If the RSI is between the thresholds, the cell remains neutral/background color.

Traders can use this to spot "sector-wide" moves, where the majority of bank stocks show a synchronized RSI trend, potentially confirming a stronger move in the main index.

Details

The indicator utilizes the request.security() function to fetch data for multiple tickers and timeframes. It calculates a standard Relative Strength Index (RSI) for each ticker. The logic is optimized to display the status on the last bar of the chart to maintain performance. Users can customize which exchange and symbols are tracked, making it adaptable for other sectors if desired, though it is pre-configured for the NSE Bank Nifty constituents.

Settings

• RSI periods: The lookback period used for the RSI calculation (default is 14).
• RSI bullish above: The threshold value above which a stock is considered bullish (default is 70).
• RSI Bearish below: The threshold value below which a stock is considered bearish (default is 30).
• Resolution 3/4/5: These settings allow you to define the three timeframes displayed in the table columns (e.g., 1-hour, Daily, Weekly).
• Symbol Inputs: Fields to define the specific tickers to be monitored in the dashboard.
• EXCHANGE: The exchange prefix used for fetching data (default is "NSE").

FAQ

How do I interpret the colors in the table?

Green indicates a bullish RSI trend (overbought/strong momentum), red indicates a bearish RSI trend (oversold/weak momentum), and the background color indicates a neutral range.

Can I track stocks from other sectors or exchanges?

Yes, you can manually change the symbol inputs and the exchange prefix in the settings to track any list of stocks available on TradingView.

How can I access this indicator?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.