Drun30

Multi-Timeframe Stoch RSI

Good evening folks!
Today I want to share with you a simple variant of the Stochastic-RSI built-in indicator.

Nothing too complex: by enabling the relative checkbox and setting the desired (k, d or the RSI ) source and timeframes, you can see higher timeframes data plotted on your screen.

Everything you need to do is enabling the indicator on the lowest timeframe (in this case 15 minutes), then you will see in YELLOW the information retrieved from the next higher timeframe (in this case 30 minutes) and in RED the information retrieved from the highest timeframe (in this case 45 minutes).

IT'S IMPORTANT THAT YOU DISPLAY THE INDICATOR ON THE LOWEST TIMEFRAME!

You can play with the overbought and oversold heights in order to have the best configuration you want (in oversold conditions is suggested to buy while in overbought conditions is suggested to sell)

The higher timeframes data are retrieved avoiding repainting since the method used for taking them is the 10th method described in this PineCoders Article, so, if you want to enable alerts, you SHOULD ignore the disclaimer message related to it without any problem.

Good Trading!
Release Notes: Small update in order to make it prevent-repainting compliant according to the recent changes made by script moderators
Skript med en öppen källkod

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Vill du använda det här skriptet i ett diagram?