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[TehThomas] - Aligned Timeframe Liquidity Sweeps█ OVERVIEW The Liquidity Sweeps ICT MTF indicator automatically detects and visualizes buyside and sellside liquidity levels based on higher timeframe (HTF) swing points. Designed specifically for traders using Smart Money Concepts and ICT (Inner Circle Trader) methodology, this tool helps identify where institutional players are likely hunting liquidity before making directional moves. █ KEY FEATURES ✓ Automatic ICT-Aligned Timeframe Selection • Intelligently selects the higher timeframe based on your current chart • Follows ICT's recommended correlations (5min→1h, 15min→4h, 1h→Daily, etc.) • No manual timeframe selection needed - adapts automatically ✓ Precise Liquidity Level Placement • Lines start exactly at the LTF candle that created the HTF swing point • Searches backwards through historical data to find exact placement • Eliminates guesswork about where institutional orders cluster ✓ Real-Time Sweep Detection • Solid lines indicate untouched liquidity (active levels) • Lines automatically turn dotted when price sweeps through them • Swept lines stop at the exact bar of the sweep (clean visualization) • Both wicks and candle bodies trigger sweep detection ✓ Fully Customizable Per Timeframe • Individual swing detection settings for each HTF (1m, 15m, 1h, 4h, D, W, M) • Adjust sensitivity to show major levels only or capture granular liquidity pools • Customizable colors and line width • Organized settings groups for easy navigation █ HOW IT WORKS The indicator identifies swing highs and swing lows on a higher timeframe using pivot point detection. These swing points represent areas where stop-loss orders from retail traders concentrate, creating "liquidity pools" that smart money targets. Timeframe Alignment (Automatic): • 15s chart → 1min HTF • 1min chart → 15min HTF • 5min chart → 1hour HTF • 15min chart → 4hour HTF • 1hour chart → Daily HTF • 4hour chart → Weekly HTF • Daily chart → Monthly HTF Swing Detection: The indicator uses customizable left/right bar counts to identify valid swing points on the HTF. Default values are optimized per timeframe (e.g., 10 bars for 1h, 5 bars for Daily), but can be adjusted to your preference. Visualization: • Green lines = Buyside liquidity (swing highs where long stops sit) • Red lines = Sellside liquidity (swing lows where short stops sit) • Solid style = Untouched liquidity • Dotted style = Swept liquidity █ SETTINGS Swing Detection Group: • Swing Bars - 1 Minute: Default 5 bars • Swing Bars - 15 Minutes: Default 8 bars • Swing Bars - 1 Hour: Default 10 bars • Swing Bars - 4 Hours: Default 6 bars • Swing Bars - Daily: Default 5 bars • Swing Bars - Weekly: Default 3 bars • Swing Bars - Monthly: Default 2 bars Tip: Increase values for cleaner charts with major levels only. Decrease for more sensitive detection. Display Group: • Buyside Liquidity Color: Default green • Sellside Liquidity Color: Default red • Line Width: Adjustable 1-5 █ HOW TO USE Reading the liquidity levels: 🟢 Green solid line = Untouched buyside liquidity (potential magnet for price) 🔴 Red solid line = Untouched sellside liquidity (potential magnet for price) 🟢 Green dotted line = Swept buyside liquidity (bulls trapped) 🔴 Red dotted line = Swept sellside liquidity (bears trapped) Trading Applications: 1. Liquidity Grab Reversals: Watch for sweeps followed by immediate reversals 2. Stop Hunt Detection: Multiple sweeps often precede strong counter-moves 3. Target Identification: Use untouched levels as potential price magnets 4. Market Structure Analysis: Understand institutional order flow 5. Confluence Zones: Combine with order blocks, FVGs, or other ICT concepts Best Practices: • Focus on liquid markets (major FX pairs, indices, large-cap stocks) • Consider higher timeframe trend - sweeps against trend are higher probability • Look for liquidity clusters (multiple levels close together) • Wait for confirmation after sweeps before entering • Not all sweeps result in reversals - context matters █ TRADING STRATEGY EXAMPLES Liquidity Sweep Reversal: 1. Identify untouched liquidity level 2. Wait for price to sweep through (line turns dotted) 3. Look for reversal price action (engulfing, rejection) 4. Enter in reversal direction with stop beyond the sweep 5. Target next liquidity level or structure Liquidity-to-Liquidity: 1. Price sweeps sellside liquidity (red dotted) 2. Enter long positions 3. Target buyside liquidity above (green solid) 4. Exit when buyside liquidity is swept █ IDEAL FOR • ICT Methodology Traders • Smart Money Concept Practitioners • Liquidity-Based Strategies • Multi-Timeframe Analysis • Price Action Traders • Stop Hunt Avoidance █ TECHNICAL SPECIFICATIONS • Maximum Lines: 500 • Lookback Range: Up to 1000 bars for precise placement • Compatible: All markets and timeframes • Data: Works on both real-time and historical bars █ NOTES & DISCLAIMERS • This indicator is a tool for analysis, not a standalone trading system • Always use proper risk management and combine with other analysis • Performance may vary across different markets and conditions • Based on ICT concepts - familiarity with Smart Money trading is recommended █ LIQUIDITY FOR SINGLETIMEFRAMES If you prefer normal liquidity lines you can use my other free liquidity indicator
Pine Script® indicator
by TehThomas
1
Chart Custom Period ScannerHow it Works 1. The Scanner (Inputs): The script defaults to a 20-bar lookback. This means it scans the last 20 candles. You can change this to 50, 200, or any number you like in the settings menu. 2. The Logic: * It calculates the Highest Price reached in that past period. * It calculates the Lowest Price reached in that past period. 3. The Suggestion: * BUY: If the current price breaks above the highest price of your past period, it suggests the trend is turning bullish. * SELL: If the current price breaks below the lowest price of your past period, it suggests the trend is turning bearish.
Pine Script® indicator
by Hussien_Alkhalidy
PaisaPani - Demo Performance (Silver)This indicator shows a DEMO performance snapshot to explain how a rule-based framework behaves on charts. It is NOT a live trading system. It does NOT provide Buy/Sell signals. No profit guarantees are implied. 🔹 Separate indicators are designed for different instruments (Nifty, BankNifty, Silver etc.) 🔹 Intended to be used only on the mentioned timeframes 🔹 Focused on structure, discipline, and risk awareness 🔒 Full PaisaPani strategy is Invite-Only. If you have any queries, you may message "ACCESS" on TradingView. ⚠ Disclaimer: This demo is for educational purposes only. Trading involves risk. Please use your own judgment.
Pine Script® indicator
by adiavi2008
How RSI Pullbacks Work Best in a Trend EMA Momentum ConceptRSI is one of the most widely used momentum indicators, but it works best when traded in the direction of the trend rather than in isolation. This idea demonstrates a simple RSI pullback / retest concept combined with a 50 EMA to identify high-probability trend continuation trades. 🔹 Strategy Concept The core idea is to trade pullbacks within an existing trend instead of chasing price or predicting reversals. A 50 EMA is used as a trend filter: • Price above EMA → bullish bias • Price below EMA → bearish bias This keeps trades aligned with market structure and momentum. 🟢 BUY Setup (RSI Pullback in Uptrend) A buy signal appears when: • Price is above the 50 EMA • RSI pulls back below the 45 level • RSI crosses back above 45 • Price shows bullish confirmation This represents a healthy pullback, not weakness. 🔴 SELL Setup (RSI Retest in Downtrend) A sell signal appears when: • Price is below the 50 EMA • RSI rises above the 55 level • RSI crosses back below 55 • Price confirms bearish momentum This captures continuation after a corrective move. 📊 Chart Observation As seen on the chart, signals occur after pullbacks rather than at random points. Trades align with trend direction and avoid sideways conditions. The highlighted buy and sell markers show how RSI reacts during momentum pauses and resumes in the direction of the trend. This behavior is clearly visible on intraday charts like the 15-minute timeframe. 🧠 How to Use This Idea This concept works best when combined with: • Support and resistance levels • Market structure • Candle confirmations (engulfing, strong rejection candles) • Proper risk management Technical analysis provides a high-probability edge, but it does not offer certainty. As seen in these examples, trades can frequently move in the opposite direction post-entry. To protect your capital, you must implement a stop-loss for every position and maintain the discipline to honor it, regardless of your conviction. RSI here is used as a momentum pullback tool, not as a traditional overbought/oversold indicator. If you find this concept useful, feel free to Boost and share your feedback. Suggestions for improvements are always welcome. pacplindicators.com //@version=5 strategy("PACPL – RSI Pullback / Retest Strategy v2.1 (Live Version)", overlay=true, max_labels_count=500, initial_capital=100000, commission_type=strategy.commission.percent, commission_value=0.02) //------------------------------------------------------ // ⚙️ INPUTS //------------------------------------------------------ rsiLen = input.int(14, "RSI Length", minval=1) emaLen = input.int(50, "Trend EMA Length", minval=1) pullbackBuy = input.int(45, "RSI Pullback Level (BUY Zone)", minval=20, maxval=60) pullbackSell= input.int(55, "RSI Retest Level (SELL Zone)", minval=40, maxval=80) confirmBars = input.int(1, "Price Confirmation Bars", minval=1) showLabels = input.bool(true, "Show Buy/Sell Triangles") showZones = input.bool(true, "Highlight Pullback Zones") //------------------------------------------------------ // 📊 CORE INDICATORS //------------------------------------------------------ rsiValue = ta.rsi(close, rsiLen) emaPrice = ta.ema(close, emaLen) trendUp = close > emaPrice trendDn = close < emaPrice //------------------------------------------------------ // 🔄 SIMPLIFIED PULLBACK / RETEST LOGIC //------------------------------------------------------ // BUY → In uptrend, RSI dips below 45 and comes back above it rsiBuyCond = ta.cross(rsiValue, pullbackBuy) and trendUp // SELL → In downtrend, RSI rises above 55 and comes back below it rsiSellCond = ta.cross(rsiValue, pullbackSell) and trendDn // Confirmation with price direction priceConfirmUp = close > close priceConfirmDown = close < close // Final entry conditions longCond = rsiBuyCond and priceConfirmUp shortCond = rsiSellCond and priceConfirmDown //------------------------------------------------------ // 🧾 STRATEGY EXECUTION //------------------------------------------------------ if longCond and strategy.position_size <= 0 strategy.entry("BUY", strategy.long) if shortCond and strategy.position_size >= 0 strategy.entry("SELL", strategy.short) // Opposite signal exit if strategy.position_size > 0 and shortCond strategy.close("BUY", comment="Opposite RSI Retest Exit") if strategy.position_size < 0 and longCond strategy.close("SELL", comment="Opposite RSI Pullback Exit") //------------------------------------------------------ // 📈 VISUALS //------------------------------------------------------ plot(emaPrice, "EMA", color=color.new(color.teal, 0), linewidth=2) // Triangles plotshape(showLabels and longCond, title="Buy", style=shape.triangleup, location=location.belowbar, color=color.new(color.green, 0), size=size.small, text="BUY") plotshape(showLabels and shortCond, title="Sell", style=shape.triangledown, location=location.abovebar, color=color.new(color.red, 0), size=size.small, text="SELL") // Background zones bgcolor(showZones and trendUp and rsiValue < pullbackBuy ? color.new(color.green, 85) : na) bgcolor(showZones and trendDn and rsiValue > pullbackSell ? color.new(color.red, 85) : na) //------------------------------------------------------ // 🔔 ALERTS //------------------------------------------------------ alertcondition(longCond, title="BUY Triggered", message="RSI Pullback Retest → BUY Signal") alertcondition(shortCond, title="SELL Triggered", message="RSI Retest Pullback → SELL Signal") //------------------------------------------------------ // 🧠 NOTES //------------------------------------------------------ // ✅ Live, non-repainting RSI pullback logic // BUY: RSI crosses back above pullback zone while price above EMA // SELL: RSI crosses back below retest zone while price below EMA // Simple, effective continuation system for trend pullback entries // Works on all timeframes (NIFTY, BANKNIFTY, Stocks, Crypto)
Pine Script® strategy
by pacpl_tradingdesk
BTC DXY adjusted with flexible timeframeIf you want to see the BTC-price adjusted for the changes in the dollar index DXY, use this script. 1. Open a BTC/USD chart, 2. add a symbol (DXY), click open in new scale, 3. add this indicator 4. timeframe flexible based on the timeframe on tradingview and you will get the BTC price adjusted for changes in DXY. If the DXY falls, but BTC price stays stable, then the DXY-adjusted price is lower than the BTC-price et vice versa.
Pine Script® indicator
by Langren55
Nifty 50 Logarithmic Rainbow (7 Bands)This description is written to be pasted directly into the "Description" field on TradingView when you publish or share the indicator. It explains the logic, how to read it, and the specific calibration for the Nifty 50.Description: Nifty 50 Logarithmic Regression Rainbow (Calibrated)OverviewThis indicator is a long-term valuation tool for the Nifty 50, inspired by the logarithmic regression models used by Benjamin Cowen for Bitcoin. Unlike standard linear trendlines, this model accounts for the exponential growth and diminishing volatility of a maturing stock index over decades.It is designed to help investors identify historical cycle extremes—distinguishing between "generational buying opportunities" and "overheated bubble territory."The MathematicsThe indicator uses a Power Law regression model based on over 30 years of Nifty 50 historical data (from 1990 to the present):$$\ln(\text{Price}) = a + b \cdot \ln(\text{Time} + \text{Offset})$ PSECZ:FIXED Parameters: The slope and intercept are hard-coded based on a best-fit analysis of the Nifty’s history, ensuring the bands remain stable and do not "jump" or repaint when you scroll through the chart.Time Offset: A specific 10,000-day offset is applied to the origin. This flattens the curve to perfectly match the Nifty's stable growth transition from the 1990s through the 2008 and 2020 cycles.How to Read the 7-Band RainbowThe chart is divided into 7 distinct color-coded zones:Red / Orange (Upper Bands): Cycle Peaks. Historically, when the Nifty enters these zones (like in 1992 and 2008), it is significantly overvalued and a correction or consolidation is likely.Yellow (Upper-Mid): Overheated. The index is trading above its fair value.Green / Cyan (Center Bands): Fair Value. This represents the "Mean" of the index. During healthy bull markets, the Nifty 50 spends the majority of its time oscillating within these zones.Blue / Purple (Lower Bands): Generational Value. These zones represent extreme undervaluation. Historically, these have aligned with major market bottoms, such as the 2003 accumulation phase, the 2008 crash bottom, and the 2020 COVID-19 lows.How to UseTimeframe: Optimized for Weekly (W) and Daily (D) views.Scale: IMPORTANT: You MUST enable Logarithmic Scale on your TradingView chart (click the 'Log' button in the bottom right) for the bands to display their intended geometric curves.Customization: You can adjust the Band Width in the settings to fine-tune how strictly the bands wrap around historical peaks and troughs.DisclaimerThis indicator is a mathematical model based on historical data. Past performance is not indicative of future results. It is intended for educational and macro-analysis purposes and should not be used as the sole basis for financial decisions.
Pine Script® indicator
by arora_rohit0999
The Fantastic 4 - Momentum Rotation StrategyOverview The Fantastic 4 is a tactical momentum rotation indicator. It rotates capital monthly across four carefully selected assets based on their 75-day Rate of Change (ROC), allocating only to assets with positive momentum and proportionally weighting them by their momentum strength. This indicator tracks the strategy's historical performance, displays current allocation recommendations, and sends monthly rebalance alerts so you can easily manage your portfolio. Simply set your capital amount and the indicator shows exactly how much to invest in each asset. Why These Four Assets? The selection of 20-year Bonds, Gold, Russell 2000, and Emerging Markets is based on their specific volatility and decorrelation characteristics, which allow the strategy to react quickly to market shifts while providing protection during downturns. Russell 2000 (Small Caps) Chosen over the S&P 500 because it is more "lively" and active (Nowadays you could use also the Nasdaq). Its trends are steeper and more vertical, making it easier for a momentum indicator to catch clear trends. While the S&P 500 has more inertia, the Russell 2000 develops faster, allowing the strategy to capture gains in shorter periods. Emerging Markets Included because they can act like a "rocket," offering explosive growth potential while maintaining high decorrelation from developed equity markets. When emerging markets trend, they trend hard. 20-Year Bonds Selected because they are the most decorrelated asset from equities. When a stock market crash occurs, capital typically flows into fixed income, and long-term bonds (20-year) notice this influx the most, making their price reaction more significant and easier to trade. This is the strategy's primary "safe haven." Gold Along with bonds, gold serves as a defensive asset providing a "shield" for the portfolio when general market conditions deteriorate. It offers additional decorrelation and crisis protection. How the Strategy Works The 75-Day Momentum Engine The strategy uses a 75-day momentum lookback (roughly 3.5 months), which is considered very "agile" compared to other models like Global Equity Momentum (GEM) that use 200-day periods. This shorter window allows the strategy to: React quickly to changes in trend Catch upward movements in volatile assets early Exit quickly when trends break Monthly Rebalancing Process At the end of each month: Step 1: Calculate 75-day ROC for each asset Step 2: Filter out assets with negative momentum (they receive 0% allocation) Step 3: Distribute capital proportionally based on momentum strength Step 4: Apply 5% minimum threshold (smaller allocations become zero) Step 5: Apply 80% maximum cap (no single asset exceeds 80%, remainder stays in cash) The 80% Ceiling Rule There is an 80% investment ceiling for any single asset to prevent over-exposure. If only one asset (like bonds) has positive momentum, 80% goes to that asset and 20% remains in cash/liquidity. Behavior in Bearish Markets When markets turn bearish, the strategy protects capital through several mechanisms: Automatic Risk-Off Because the strategy only invests in assets with positive momentum, it automatically moves away from crashing equities. If an asset's trend becomes negative, the strategy stays "on the sidelines" for that asset. The Bond Haven During prolonged bearish periods or sudden crashes (like COVID-19), the strategy typically shifts into 20-year bonds. During the COVID-19 crash in March 2020, while global markets were collapsing, strategies like this reportedly yielded positive returns by being positioned in bonds. Full Liquidity Option If no assets show positive momentum, the strategy moves to 100% cash. This is rare given the decorrelation between the four assets—when equities crash, bonds and gold typically rise. What This Indicator Does This is a tracking and alerting tool that: Calculates the optimal allocation based on current momentum Shows historical monthly performance of the strategy Simulates portfolio equity growth from your specified starting capital Displays exact dollar amounts to invest in each asset Sends monthly rebalance alerts with complete instructions Detects missing data to prevent false signals Features Dynamic allocation table showing weights, dollar amounts, and ROC values Monthly returns history with color-coded performance Data availability detection with visual status indicators Configurable alerts for rebalancing, go-to-cash, and missing data Simulated equity curve from initial capital Settings Guide Assets Configure your four ETFs. The default European ETFs are: Asset 1 - XETR:IS04: iShares 20+ Year Treasury Bond (Bonds) Asset 2 - XETR:GZUR: Gold ETC Asset 3 - XETR:XRS2: Xtrackers Russell 2000 (Small Caps) Asset 4 - XETR:XMME: Xtrackers Emerging Markets (EM) For US markets, consider: TLT (20-year bonds), GLD (Gold), IWM (Russell 2000), EEM (Emerging Markets) Strategy Settings ROC Period - Momentum lookback in daily bars. Default: 75 days (~3.5 months) Max Allocation % - Maximum weight for any single asset. Default: 80% Min Allocation % - Threshold below which allocation becomes zero. Default: 5% Capital Initial Capital - Your portfolio value. The indicator calculates exact amounts for each asset based on this. Default: $20,000 Display Table Positions - Position the allocation and history tables on screen Months of History - How many past months to display (3-24) Alerts Monthly Rebalance Alert - Sends complete allocation details at month end Go-to-Cash Alert - Alerts when all assets have negative momentum Missing Data Alert - Warns when asset data is unavailable How to Use Initial Setup Add indicator to any chart and switch to MONTHLY timeframe Configure your four ETF tickers Set your portfolio capital amount Position the tables where you prefer Setting Up Alerts Click Alert button or press Alt+A Set Condition to "Fanta4" Select "Any alert() function call" Choose notification method (Email, Push, Webhook, etc.) Set expiration to "Open-ended" Monthly Workflow Receive rebalance alert at the start of each month Alert shows exact percentages AND dollar amounts for each asset Adjust your portfolio accordingly No action needed during the month Reading the Tables Green = positive returns/momentum Red = negative returns/momentum Orange "N/A" = missing data Alloc column shows weight distribution (e.g., "45/35/20/—") Alert Message Example Monthly alerts include: Target month for the new allocation Current portfolio value Each asset's percentage AND dollar amount Each asset's momentum (ROC) value Cash allocation if applicable Total return since inception Historical Context This strategy combines elements of: Dual Momentum (Gary Antonacci) - Relative and absolute momentum Global Equity Momentum (GEM) - But with shorter 75-day vs 200-day lookback Risk parity concepts - Decorrelated asset selection The key innovation is the specific asset selection optimized for momentum trading and the agile 75-day lookback period that allows faster reactions to trend changes. Data Requirements The strategy activates only when all four assets have valid price data (minimum 75 days of history). The data status row shows checkmarks for available data. Note: Some ETFs have limited history (e.g., XMME data starts June 2017). Limitations This is a tracking indicator, not an automated trading system Past performance is hypothetical and does not guarantee future results Requires all four assets to have valid data; partial allocation not supported Monthly rebalancing may miss shorter-term momentum shifts Transaction costs, slippage, and taxes are not included in simulation ETF availability and liquidity vary by region The 75-day momentum may whipsaw in choppy, trendless markets Disclaimer This indicator is for educational and informational purposes only. It does not constitute financial advice. Version History v1.0 - Initial release with momentum rotation, allocation tables, data validation, and monthly alerts
Pine Script® indicator
by luiscaballero
logger.DEMO◼ Objective This is an accompanying script to logger library. As the library has lot of logging features, this script demonstrates how all fields and methods interact to display logs on screen. Please always use the latest version of the library and the key information functions ◼ How to access help and info about this library Import the latest version of Library, call logger.overview(), and hover mouse over overview() to see help in Editor! import GETpacman/logger/4 as logger logger.overview() => Help and general information logger.sampleCode() => Sample Code Usage logger.fields() => For listing all fields logger.methods() => For listing of all methods
Pine Script® indicator
by GETpacman
BTC Spot Premium Index (Coinbase - Binance )Overview This indicator measures the price difference between Bitcoin (BTC) on Coinbase and Binance, providing insights into the buying pressure from US-based investors versus the global market. A positive premium suggests stronger buying activity on Coinbase, which is often interpreted as a bullish signal for BTC. Key Features • Premium Calculation: The core of the indicator is the formula: Coinbase BTC Price - Binance BTC Price. • Visual Representation: The premium is plotted as an oscillator with a zero line. Positive values are colored green, and negative values are red, making it easy to identify the prevailing market sentiment. • Moving Average: A customizable moving average (default is a 20-period SMA) is included to help identify the trend of the premium. The MA line is displayed in white. • Adjustable Parameters: You can adjust the moving average length and type (SMA, EMA, WMA, RMA) to fit your trading style. How to Use 1. Identify US Market Sentiment: A sustained positive (green) premium suggests strong buying interest from the US market, which can be a precursor to price appreciation. 2. Spot Trend Reversals: A crossover of the premium line above the zero line can signal a shift from bearish to bullish sentiment. Conversely, a cross below the zero line may indicate weakening US demand. 3. Confirm with Moving Average: When the premium line crosses above its moving average, it can signal strengthening momentum. A cross below the MA may suggest a potential slowdown. Interpretation • Green Area (Positive Premium): Indicates that BTC is trading at a higher price on Coinbase than on Binance. This is generally considered a bullish sign, as it reflects strong demand from US investors. • Red Area (Negative Premium): Indicates that BTC is trading at a lower price on Coinbase. This may suggest weaker demand in the US market or stronger selling pressure. • White Line (Moving Average): Helps to smooth out the premium data and identify the underlying trend. Use it as a dynamic support or resistance level for the premium itself. This indicator is a powerful tool for gauging market sentiment and can be a valuable addition to any BTC trader's toolkit. However, it should be used in conjunction with other technical analysis tools and not as a standalone signal for making trading decisions.
Pine Script® indicator
by dylancui9
Multi-Symbol RSI Portfolio Simulator [Honestcowboy]The Multi-Symbol RSI Portfolio Simulator was build to test a theory, does the RSI indicator work in FOREX assets. Does it have predictive power. In this example the security function is used to fetch data for 40 different Forex pairs and it executes a very simple trading strategy. Sell when RSI hits 80, flatten if back below. Buy when RSI hits 20, flatten if back above. All executed on bar closes so no intra bar stuff. 🟦 🟦 🟦 Very Important Disclaimer This is a very crude indicator which does not calculate trading costs and assumes perfect execution of trades with zero slippage. Forex markets carry high risk and most CFD brokers ask high spreads and trading costs so this approach will most likely only work on the H4 or above Daily charts. We are observing market behaviour here, it's a study of price action not an executable ready strategy. Do your own cost analysis, simulation if you want to take this idea further. 🟦 What is the point? I build this indicator to prove that RSI indeed causes price action reactions especially on the intraday level in forex. Just like any study or paper not accounting for trading costs, this is just hypothetical and a starting point. 🟦 CALCULATION On each bar close it will check RSI value for each pair in the list. If one of the pairs meets the condition for a long or short it will open that trade on next bar open and hold it till close. Add the profits/losses to the equity line. And if condition still true on next bar do it again, this is a very crude simple form of testing. Tradingview strategy tester is superior but does not allow for multi-pair trading. Short Condition: RSI above 80 Short Exit: RSI below 70 Long Condition: RSI below 20 Long Exit: RSI above 30 The indicator also has 2 modes: Mean reversion and Trend mode. On default it uses Mean Reversion which is explained above. Trend mode does the exact opposite, so long above 80 short below 20. I've also included a table with a heatmap showing all the trading pairs the indicator uses, it's current RSI value and color based on how close indicator is to shorting or longing it from green to red with gray being middle so no direction. 🟦 USE CASES You can tweak the setting for different RSI values. Different RSI lengths and also freely change any trading pair inside the list to make your own test. I'm including some screenshots of tests here below:
Pine Script® indicator
by Honestcowboy