Table: Relative Strength Index (Multiple Timeframes)

The Table: Relative Strength Index (Multiple Timeframes) indicator provides a comprehensive dashboard for monitoring momentum across six distinct timeframes simultaneously. By consolidating multiple RSI values into a single on-chart table, it enables traders to quickly identify trend alignment and extreme overbought or oversold conditions throughout the market structure.

Usage

The indicator can be used to identify high-probability reversal zones or trend continuations based on the convergence of RSI values across timeframes.

• Convergence Trading: Traders may look for long positions when all monitored timeframes reach oversold levels (typically below 30). Conversely, short positions can be considered when all timeframes enter overbought territory (typically above 70).
• Momentum Confirmation: Use the Intraday or Standard modes to align the table with your specific trading style. If higher timeframes (1D, 1W) show neutral values while lower timeframes (5M, 15M) are extreme, it may indicate a temporary retracement rather than a full trend reversal.
• Visual Cues: The table cells change color based on the RSI value, with distinct highlights for extreme levels to allow for rapid data interpretation.

Details

This script utilizes the request.security() function to fetch RSI data from different timeframes. It features two primary modes:

1. Intraday: Focuses on lower timeframes including 5M, 15M, 30M, 1H, 4H, and 1D.
2. Standard: Focuses on higher timeframes including 30M, 1H, 4H, 1D, 1W, and 1M.

The indicator also incorporates a built-in alert system that triggers when all active timeframes concurrently meet the specified overbought or oversold thresholds. This script is visually inspired by the "Performance" indicator by BeeHolder.

Settings

General Settings

• INTRADAY / STANDARD: Toggles between the lower-timeframe set (starting from 5M) and the higher-timeframe set (ending at 1M).
• Positive Color: Sets the color for oversold RSI values (bullish potential).
• Negative Color: Sets the color for overbought RSI values (bearish potential).
• Length: The lookback period used for the Relative Strength Index calculation (default is 14).

Alerts

• ALARM SETTING: Enables or disables the alert functionality.
• Overbought: Defines the RSI threshold (e.g., 70) that all timeframes must exceed to trigger an overbought alert.
• Oversold: Defines the RSI threshold (e.g., 30) that all timeframes must fall below to trigger an oversold alert.

FAQ

How do I access the Table: Relative Strength Index (Multiple Timeframes)?

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

Why are some cells gray?

Cells appear gray when the RSI value is in a neutral zone (between 30 and 70). This indicates that there is no extreme momentum currently detected on that specific timeframe.

Can I change the timeframes in the table?

The timeframes are preset based on the "Intraday" or "Standard" toggle to ensure consistent layout and calculation. You can switch between these two modes in the settings menu to view different time horizons.