This indicator scans a pasted list of symbols for RSI directional momentum and shows matching long and short signals in a table in a separate pane. The user chooses continuous break, continuous retracement, flip break, flip retracement, divergence, or hidden d
Indicator · Pine Script v4 · Own pane
Overbought RSI and Stoch MTF Mod
This indicator evaluates Relative Strength Index (RSI) and Stochastic RSI conditions across eight customizable higher timeframes simultaneously.
Repaints
GitHub stars114on the repository
Pine versionv4older, still runs
Lines of code48
Settings17inputs
LicenceNone stated
Last update1 year ago7 Nov 2024
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
For each timeframe, ranging from 5 minutes to 12 hours, it checks whether RSI and Stochastic %K or %D cross specified overbought or oversold thresholds. The status of each timeframe is plotted in a separate pane as stacked colored squares, with red denoting overbought conditions and green denoting oversold conditions. Higher timeframe data requests dynamically update, which causes shapes to repaint on historical bars.
- Multi-timeframe Stochastic RSI tracking
- Visual status grid in separate pane
- Customizable overbought and oversold thresholds
- Eight selectable timeframe inputs
Details
Published by
capissimo on GitHub
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Oscillators & momentum, Screeners & dashboards
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- Signals can change on the live bar or after it closes (repainting)
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| RSI Source | source | close | rsiSource |
| K | int | 3 | k |
| D | int | 3 | d |
| RSI Length | int | 14 | rsiLength |
| Stochastic Length | int | 14 | stochLength |
| Stochastic overbought level | int | 80 | stochOverboughtLevel |
| Stochastic oversold level | int | 20 | stochOversoldLevel |
| RSI overbought level | int | 70 | rsiOverboughtLevel |
| RSI oversold level | int | 30 | rsiOversoldLevel |
| Timeframe 5 | int | 5 | timeframe5 |
| Timeframe 15 | int | 15 | timeframe15 |
| Timeframe 30 | int | 30 | timeframe30 |
Show all 17 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Timeframe 1H | int | 60 | timeframe60 |
| Timeframe 2H | int | 120 | timeframe120 |
| Timeframe 4H | int | 240 | timeframe240 |
| Timeframe 8H | int | 480 | timeframe480 |
| Timeframe 12H | int | 720 | timeframe720 |
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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