Adapted RSI w/ Multi-Asset Regime Detection v1.1

The Adapted RSI w/ Multi-Asset Regime Detection indicator provides an enhanced Relative Strength Index experience by integrating multi-timeframe analysis, multi-asset monitoring, and automatic market regime detection into a single interface. It aims to help traders identify market-wide momentum shifts and confluence across different assets and timeframes simultaneously.

Usage

The indicator functions as a comprehensive dashboard for momentum analysis. Users can monitor the current asset across Daily, Weekly, and Monthly timeframes via the main table, while the Asset Comparison table tracks up to 10 user-defined symbols.

The script uses a five-level signal system based on RSI thresholds:

• Strong Buy: RSI below 15 (Extreme oversold, high mean-reversion probability).
• Buy: RSI below 30 (Traditional oversold).
• Neutral: RSI between 30 and 70 (Equilibrium).
• Sell: RSI above 70 (Traditional overbought).
• Strong Sell: RSI above 85 (Extreme overbought, high mean-reversion probability).

Traders should look for confluence between the "Regime" (Bullish if RSI > 50, Bearish if RSI < 50) and the specific RSI signals to determine the strength of a potential trend reversal or continuation.

Details

The indicator calculates the standard RSI using a 14-period lookback by default. It enhances this basic calculation by fetching data from higher timeframes (Daily, Weekly, Monthly) and external symbols using the request.security function.

Market "Regimes" are defined by the 50-level midline: a value above 50 indicates a bullish momentum regime, while a value below 50 indicates a bearish momentum regime. Additionally, the script includes a Moving Average (MA) plotted over the RSI line to help identify smoother momentum trends and potential crossovers.

Settings

RSI Settings

• RSI Length: Sets the lookback period for the RSI calculation (default is 14).
• RSI Line Color/Width: Customizes the visual appearance of the primary RSI plot.
• RSI MA Plot Color/Width/Style: Controls the appearance of the Moving Average applied to the RSI.

Asset Comparison & Toggles

• Show Asset Comparison Table: Toggles the visibility of the multi-asset dashboard.
• Asset 1-10: Input fields to define the specific symbols to monitor.
• Show Asset 1-10: Individual toggles to filter which assets appear in the table.

Level Lines

• Show Level Lines: Toggles the horizontal threshold lines (15, 30, 50, 70, 85).
• Colors: Individual color pickers for the different overbought and oversold thresholds.

Table Settings

• Position: Choose the corner of the chart where tables are displayed.
• Text Size/Transparency: Adjusts the legibility and background opacity of the UI elements.

FAQ

How do I interpret the "Regime" column in the table? The Regime column indicates whether the asset is in a Bullish (RSI > 50) or Bearish (RSI < 50) state. This acts as a filter for the trend bias before considering overbought or oversold signals.

Can I change the assets being monitored in the comparison table? Yes, you can input any valid TradingView ticker (e.g., BTCUSDT, AAPL, EURUSD) in the "Asset Comparison" group within the script settings.

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