RSI Screener / Heatmap

The RSI Screener / Heatmap indicator provides a comprehensive market overview by displaying the Relative Strength Index (RSI) values of up to 280 tickers simultaneously using a label-based heatmap format. This tool aims to help traders quickly identify overbought or oversold conditions across multiple assets or sectors without switching charts.

Usage

The Usage section focuses on how to interpret the visual data and utilize the unique ticker selection method.

• Screener Mode: In this mode, each ticker from the selected group is displayed as a color-coded label at its current RSI value. This allows for a vertical comparison of where different assets sit relative to the 50 level and extreme zones.
• Group Average RSI: Instead of individual labels, this mode plots a single RSI line representing the mean average RSI of all tickers within the active group.
• Custom Ticker Lists: Users can input custom lists of tickers into the text area fields. By using commas to separate symbols, you can quickly swap between different market segments (e.g., Layer 1s, DeFi, AI tokens).
• RSI Source Selection: The tool can calculate RSI based on standard Price, On Balance Volume (OBV), or Open Interest (specifically for supported crypto tickers), providing different perspectives on market momentum.

Details

This tool utilizes a text-parsing function to extract up to 40 tickers per group from a string input, allowing for a total of 7 groups (280 tickers). It uses request.security to fetch data for these symbols across a user-defined timeframe.

The visual output is enhanced by a gradient system that color-shifts labels based on their proximity to overbought (70-100) or oversold (0-30) regions. The script also supports "RSI Change Lines," which draw a vertical connection between the current RSI and a previous value to visualize recent momentum shifts.

Settings

General Settings

• Display as: Choose between 'Screener' (individual labels) or 'Group Average RSI' (single line).
• RSI Source: Determines the data used for calculation (Price, OBV, or Open Interest).
• RSI Length: The lookback period for the RSI calculation (default is 14).
• RSI Timeframe: The timeframe from which RSI data is pulled.
• Group: Selection of which ticker group (#1 through #7) to display.

Appearance Settings

• RSI Change Lines: Toggles vertical lines showing the distance from a previous RSI value.
• Average RSI Line: Displays a horizontal line representing the average RSI of the current group.
• Space (bars): Adjusts the horizontal spacing between the labels.
• Gradient coloring: Enables or disables the heatmap color transitions.
• Color zones: Adds background color blocks to signify different RSI ranges.

Ticker Selection

• Ticker group #1-7: Text area fields where you can paste comma-separated ticker names.
• Prefix/Suffix: Allows you to add exchange prefixes (e.g., BINANCE:) or suffixes (e.g., USDT) to all items in the list automatically.

FAQ

How do I add my own tickers?

Go to the script settings under the "Ticker selection" group and paste your comma-separated list of symbols into one of the "Ticker group" text areas. Ensure the prefix and suffix match your preferred exchange.

Why are some labels showing "na"?

This usually happens if the ticker symbol is typed incorrectly, the exchange prefix is wrong, or the data is not available for the selected "RSI Source" (e.g., Open Interest is not available for all symbols).

How can I access RSI Screener / Heatmap?

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