RSI Heatmap

The RSI Heatmap indicator calculates and visualizes ten different Relative Strength Index (RSI) lengths simultaneously to provide a comprehensive view of momentum across multiple time horizons.

Usage

The indicator is used to identify confluence between different RSI lengths. Each horizontal band in the heatmap represents a specific RSI length, ranging from the shortest (fastest) at the top to the longest (slowest) at the bottom.

• Bullish Confluence: When multiple bands turn green, it indicates that price is reaching overbought levels across several timeframes or lengths simultaneously.
• Bearish Confluence: When multiple bands turn red, it indicates that price is reaching oversold levels across several lengths.
• Extreme Readings: A solid block of a single color suggests an "extreme" state where both short-term and long-term momentum are in agreement, often signaling potential exhaustion or strong trend continuation.

Details

The tool calculates the standard RSI for ten user-defined lengths. These values are then mapped to a color gradient ranging from red (0-30 range typically) to green (70-100 range typically), though the gradient transitions smoothly across the entire 0-100 scale. By stacking these measurements vertically, traders can see a "heatmap" of momentum. This implementation is designed to highlight clusters of overextended price action that might be missed when looking at a single RSI period.

Settings

• RSI 1 (shortest) to RSI 10 (longest): These inputs allow you to define the lookback periods for each of the ten RSI calculations displayed in the heatmap.

FAQ

How do I interpret the colors? The colors represent the RSI value: green indicates higher RSI values (approaching overbought), while red indicates lower RSI values (approaching oversold).

Can I change the sensitivity of the heatmap? Yes, by adjusting the ten RSI length inputs in the settings menu, you can make the heatmap more sensitive (shorter lengths) or more smoothed (longer lengths).

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