Multi Timeframe RSI

The Multi Timeframe RSI indicator provides a comprehensive view of momentum across multiple timeframes, allowing traders to identify trend alignment and potential reversals from a single pane.

Usage

The Multi Timeframe RSI is designed to help traders analyze momentum trends on both current and higher timeframes simultaneously. By observing the interaction between different timeframes, users can identify high-probability trade setups.

• Trend Alignment: Look for higher timeframe RSI lines (typically shown in grayscale) to be "stepping up" or trending higher. Traders can then wait for the current timeframe RSI (blue) to dip into oversold territory (below 30) for a potential buy entry in the direction of the higher trend. The reverse applies for sell setups.
• Extreme Convergence: When all RSI timeframes converge into the oversold (under 30) or overbought (over 70) zones, it may indicate a significant exhaustion point and a potential zone for a reversal trade.
• Divergence Analysis: Differences in momentum direction between the current timeframe and higher timeframes can signal early trend shifts.

Details

The indicator calculates the Relative Strength Index (RSI) for the current chart interval and uses the request.security function to fetch RSI values from fixed higher timeframes ranging from 5 minutes up to 1 Day. To maintain visual clarity, higher timeframe plots are only displayed if they are indeed higher than the current chart's timeframe. This prevent "future looking" data or redundant plots when viewing daily or higher charts.

Settings

• Length: The lookback period used for the RSI calculation (default is 14).
• Source: The price data used for calculation (default is Close).
• Show [Timeframe]: Toggle visibility for specific timeframes (5m, 15m, 30m, 1h, 2h, 4h, and 1D).

FAQ

How do I interpret the different colors on the chart? The current timeframe RSI is plotted in blue. Higher timeframe RSIs are plotted in varying shades of gray to provide a clear visual hierarchy of momentum across the time spectrum.

Can I use this on daily or weekly charts? While the indicator supports data up to the 1-Day timeframe, it is primarily designed for intraday traders to see higher timeframe context. If the chart timeframe exceeds a plot's timeframe (e.g., viewing a 1D plot on a weekly chart), that specific plot will be hidden.

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