This will show you the RSI of the higher timeframes (up to 1D). Current Timeframe is colored red, higher timeframes are colored from light gray to darker gray (you can change that).
There are several ways to enter a trade:
1. look for rising RSI on higher timeframe (line is stepping up in indicator window), wait for current RSI to decline to oversold (with length 14 its below 30), look for a buy entry (vice versa for a sell setup) 2. look for all RSI timeframes to decline to oversold, this is a good zone to enter a buy (vice versa for a sell setup)
Keep in Mind that a Stochastic Indicator can have it's High/Low befor Price will have it.
can you add code for weekly and monthly. it would be great help
ANSARI-FX
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Thank you very much for helping us.
arpitjpatel
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hi, can u please make daily, weekly and monthly rsi version of the same? Also, please try to give user defined OB and OS levels, as they are not universal
cplhicks
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Thank you very much for this! I love it and it fits one of my strategies perfectly. Two thumbs up from a newbie script programmer.
saido
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This is so great! Is there a possibility you can make the stochastic RSI version of this? or at least help me getting started?