MTFindicators

Quite recently TradingView added the possibility to create and use Libraries in PineScript. With this feature PineScript became higher quality of coding language overnight. Libraries enable splitting your code into multiple files, providing easier access to code reusability.

I was working on a script which included 3000 lines of code, which was recompiling 1:30 min, and recalculating over 1 minute as well. So I split it into 2 parts: main part + library containing "main logic", which I reuse in variety of scripts, but don't change too often. Result? Now recompilation of my main script takes 10 and recalculation 8 seconds!!!. I instantly fell in love with libraries.

Having said that, and being dedicated hater of security() calls, I have decided to publish a library of MTF indicators created with my own approach: "dig into formula". I have explained reasons for such approach in desription to this script:

So this library script will be a set of indicators reaching to higher timeframes. Just include one line at the beginning of the script you are creating:
import Peter_O/MTFindicators/1 as LIB

and then somewhere is the code add this line:
rsimtf=LIB.rsi_mtf(close,5,14)

All of a sudden you have access to rsimtf from 5x higher timeframe without any hassle :)

I start with RSI MTF, next ones will be ADX, Stochastic and some more. I will update this library with them here as well. Feel free to request particular indicators in comments. Maybe PSAR? Maybe Bollinger Bands?

Versionsinformation:

v2

Added:
adx()

More to come...

Versionsinformation:

v3

Added:
stoch_mtf()

Versionsinformation:

v4

Added:
moving_average_mtf()

Versionsinformation:

v5

Added:
bollingerbands_mtf()

Versionsinformation:

v6

Updated:
rsi_mtf()

Versionsinformation:

v7

Added:
keltnerchannels()

macd_mtf()

Versionsinformation:

v8

Renamed:
keltnerchannels() => keltnerchannels_mtf()