Noro's RSI Multi TimeFrame — Indicator by ROBO_Trading

Volatility

Multi-timframe (MTF) version of the RSI indicator.
There are 2 RSI indicators. One is used for a small timeframe, and the second for bigger timeframe.

Red line = small-timeframe RSI (default 1 hour)
Blue line = big-timeframe RSI (default 1 day)

If big-timeframe RSI less than 30 and at the same time small-timeframe RSI less than 30, then it is very probable market bottom. Then there is a lime background.

The user can change timeframes and the periods. And the limit.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?

Related Ideas

about BTCUSD 9