MTF RSI Signals: Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.

Source Code

The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.

Overview

MTF RSI Signals calculates a smoothed RSI using short and long periods with EMA smoothing, then applies a Stoch filter for direction changes. Signals trigger on crossovers and levels, combined with ADX trend strength, volume filters, and anchored VWAP reference lines for sessions like NY open. The script draws buy/sell signals directly on the chart and optionally highlights background when RSI and Stoch align. Main settings adjust RSI lengths, Stoch thresholds, ADX levels, VWAP visibility, and instrument presets for indices or commodities. It repaints on the live bar.

MTF RSI Signals
DStoch Crossover Signals
Session VWAP
ADX Volume Filters
Instrument Presets

Details

Published by

iyoshikawa on GitHub

Type

Indicator, Pine Script v5

Draws

On the price chart

Markets

Indices, Oil & commodities

Timeframes

Any timeframe

Risk Notes

Signals can change on the live bar or after it closes (repainting)
Reads higher-timeframe data with lookahead on, so the history can show signals that were not there in real time

File

MTF_RSI_FINAL.txt

Repository

github.com/iyoshikawa/MTF_RSI. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Instrument	`string`	`DEFAULT`	`instrument_preset`
EMA Length	`int`	`34`	`ema_length_in`
Show VWAP	`bool`	`true`	`show_vwap`
Show NY Session Anchored VWAP	`bool`	`true`	`show_ny_vwap`
Show Previous NY VWAP Level	`bool`	`true`	`show_prev_ny_vwap`
RSI Speed	`string`	`Standard`	`rsi_speed`
Short RSI Period	`int`	`5`	`shortLen`
Long RSI Period	`int`	`13`	`longLen`
Short Smoothing	`int`	`2`	`shortSmooth`
Long Smoothing	`int`	`3`	`longSmooth`
RSI Neutral Zone	`float`	`1.0`	`threshold`
Stoch Period	`int`	`10`	`stochLen`

Show all 40 settings

Setting	Type	Default	Variable
Stoch Smoothing	`int`	`3`	`stochSmth`
Oversold Level	`float`	`35`	`stoch_os_in`
Overbought Level	`float`	`60`	`stoch_ob_in`
Show DStoch Crossover Signals	`bool`	`true`	`show_stoch_signals`
Sell Signal Level (cross down)	`float`	`85`	`stoch_sell_level_in`
Buy Signal Level (cross up)	`float`	`12`	`stoch_buy_level`
Brighten Background When DStoch + RSI Align	`bool`	`true`	`brighten_on_confluence`
Volume MA Length	`int`	`20`	`vol_ma_len`
Volume Multiplier	`float`	`1.1`	`vol_mult_in`
Enable Volume Filter	`bool`	`true`	`use_vol_filter`
Enable ADX Filter	`bool`	`true`	`use_adx`
ADX Length	`int`	`14`	`adx_length`
ADX Threshold for A+	`float`	`25`	`adx_threshold_a_plus_in`
ADX Threshold for A	`float`	`20`	`adx_threshold_a_in`
Session Config	`string`	`0930-1145,1330-1600:23456`	`sessionConfig`
Algo Window Mode	`string`	`OFF`	`algo_mode`
Highlight Algo Windows on Chart	`bool`	`true`	`show_algo_bg`
London Open (0200-0500 ET)	`bool`	`true`	`use_london`
NY Open (0830-1000 ET)	`bool`	`true`	`use_ny_open`
NY Afternoon (1330-1500 ET)	`bool`	`true`	`use_ny_pm`
NY Close (1500-1600 ET)	`bool`	`false`	`use_ny_close`
Asia Session (2000-0000 ET)	`bool`	`false`	`use_asia`
Globex Open (1800-1900 ET)	`bool`	`false`	`use_globex_open`
Enable ADR Exhaustion Filter	`bool`	`false`	`enable_adr_filter`
ADR Lookback (days)	`int`	`10`	`adr_length`
Exhaustion Threshold (%)	`float`	`85.0`	`adr_exhaust_pct`
Show Grade Dashboard	`bool`	`true`	`showDash`
Dashboard Position	`string`	`Top Right`	`dashPos`

Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.

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