OPEN-SOURCE SCRIPT
RSI Multi Time Frame - Spot Panic Sell Moments and profit!
Union of three RSI indicators: 1h, 4h and daily. In order to show 1h RSI, you have to set it as active time frame on the chart.
Purpose: spot "triple oversold" moments, where all the three RSI are under the threshold, which is 30 by default but editable.
Target Market: Cryptocurrencies. Didn't try it on other ones, may work as well. Fits Crypto well as, by experience, I can tell it usually doesn't stay oversold for long.
When the market panics and triple oversold occurs, the spot is highlighted by a green vertical bar on the indicator.
The indicator highlights triple overbought conditions as well (usually indicating strong FOMO), but I usually don't use it as a signal.
I suggest to edit the oversold threshold in order to make it fit the coin you're studying, minimizing false positives.
Special thanks to Heavy91, a Discord user, for inspiring me in this indicator.
Any editing proposal is welcome!
I reposted this script, as the first time I wrote it in Italian. Sorry for that.
Purpose: spot "triple oversold" moments, where all the three RSI are under the threshold, which is 30 by default but editable.
Target Market: Cryptocurrencies. Didn't try it on other ones, may work as well. Fits Crypto well as, by experience, I can tell it usually doesn't stay oversold for long.
When the market panics and triple oversold occurs, the spot is highlighted by a green vertical bar on the indicator.
The indicator highlights triple overbought conditions as well (usually indicating strong FOMO), but I usually don't use it as a signal.
I suggest to edit the oversold threshold in order to make it fit the coin you're studying, minimizing false positives.
Special thanks to Heavy91, a Discord user, for inspiring me in this indicator.
Any editing proposal is welcome!
I reposted this script, as the first time I wrote it in Italian. Sorry for that.
Script open-source
Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
Vous voulez utiliser ce script sur un graphique ?
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.