RicardoSantos

[RS]Multi Time Frame RSI

this one is more eye candy then usefull :p multiple lengths rsi .
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study(title="[RS]Multi Time Frame RSI", shorttitle="[RS]MTFRSI", overlay=false)

fc = rsi(close, 2)
fh = rsi(close, 3)
fl = rsi(close, 5)


mc = rsi(close, 8)
mh = rsi(close, 13)
ml = rsi(close, 21)


sc = rsi(close, 34)
sh = rsi(close, 55)
sl = rsi(close, 89)

f1 = plot(fc, color=(fc >= fh ? green : red), style=circles, linewidth=2)
f2 = plot(fh, color=(fh >= fl ? green : red), style=circles, linewidth=1)
f3 = plot(fl, color=(fl >= mc ? #5dd963 : #d9635d), style=circles, linewidth=1)

m1 = plot(mc, color=(mc >= mh ? #2fcf37 : #cf372f), style=circles, linewidth=2, join=true)
m2 = plot(mh, color=(mh >= ml ? #18ca21 : #ca2118), style=circles, linewidth=1)
m3 = plot(ml, color=(ml >= sc ? #13a11a : #a11a13), style=circles, linewidth=1)

s1 = plot(sc, color=(sc >= sh ? #0e7913 : #79130e), style=circles, linewidth=2, join=true)
s2 = plot(sh, color=(sh >= sl ? #09500d : #500d09), style=circles, linewidth=1)
s3 = plot(sl, color=#9ca6b3, style=circles, linewidth=1)

hline(0, color=gray)
hline(30, color=gray)
hline(50, color=gray)
hline(70, color=gray)
hline(100, color=gray)

bgcolor(black, transp=0)
Ricardo

I've been using this simple method of RSI 14 comparing RSI 50. I've noticed there is divergence from the 50 with the 14, and that often signifies near term overbought/oversold conditions or a merger signifying a buy/sell signal. Is there a way to display this convergence/divergence +merger signal in a working chart? Also would like to try RSI 4 compared to 14, or a user function to change the RSI input with an auto multiplier. Basically what ever the user is using it's 3.5x RSI comparison.

snapshot
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RicardoSantos PRO QuantitativeExhaustion
too complex i think. can do a overlap of the rsi's and display the diference, dunno how usefull that can be.
snapshot

+1 Reply
Yes that histogram display might work. Would a user still be able to change the comparison? Ex 4 compared to 14
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RicardoSantos PRO QuantitativeExhaustion
+1 Reply
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