RSI Call-outs Multi-resolution

The RSI Call-outs Multi-resolution indicator identifies synchronized overbought and oversold conditions across multiple timeframes and plots visual labels directly on the price chart. This tool allows traders to monitor RSI extremes from up to four different resolutions simultaneously without cluttering the screen with traditional sub-pane oscillators.

Usage

The script is designed to highlight high-probability reversal or exhaustion zones by filtering for moments when multiple RSI instances agree on an extreme reading.

• Overbought Signals: A red label appears above the candle when all enabled RSI timeframes are above their respective overbought (OB) thresholds.
• Oversold Signals: A green label appears below the candle when all enabled RSI timeframes are below their respective oversold (OS) thresholds.
• Multi-Timeframe Confluence: By default, the script checks if the primary RSI and any other enabled secondary RSIs (up to 4 total) meet the criteria. Labels only trigger if the conditions are met across all active selections.

For best results, it is recommended to view the chart on the smallest timeframe selected in the settings (e.g., if RSI1 is set to 1m and RSI2 to 5m, use the 1m chart).

Details

The indicator utilizes the request.security function to fetch RSI data from different resolutions. It performs a logic check across all enabled RSI slots:

1. RSI1: Always active and serves as the primary anchor.
2. RSI2-4: Optional slots that can be toggled on or off. The signal logic uses a "flat" check: for a label to print, allBelowOS or allAboveOB must be true. This means if you have three RSIs enabled, all three must be in the extreme zone at the same time. This creates a powerful confluence filter, as higher timeframe RSI levels often provide significant support/resistance context for lower timeframe price action.

Settings

The settings are organized into four identical sections for each RSI slot:

• Enabled: (For RSI 2, 3, and 4) Toggles whether this timeframe is included in the confluence calculation.
• Period: The lookback period for the RSI calculation (default is 14).
• Source: The price data used for the RSI (default is Close).
• Resolution: The timeframe to pull data from (e.g., 1m, 5m, 1h, 1D).
• Oversold Level: The threshold below which the RSI is considered oversold.
• Overbought Level: The threshold above which the RSI is considered overbought.

FAQ

How do I use the multi-resolution feature effectively?

Select a sequence of increasing timeframes (e.g., 5m, 15m, 1h) to ensure that short-term price extremes are aligned with broader market trends.

Why are labels not appearing on my chart?

Labels only appear when all enabled RSI timeframes meet the overbought or oversold criteria simultaneously. If you have four timeframes enabled and only three are at extremes, no label will show.

How can I get access to RSI Call-outs Multi-resolution?

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