Smart RSI Composite [DotGain]

Summary
Do you want to know the "True Direction" of the market without getting distracted by noise on a single timeframe?

The Smart RSI Composite simplifies market analysis by aggregating momentum data from 10 different timeframes (5m to 12M) into a single, easy-to-read Histogram.

Instead of looking at 10 separate charts or dots, this indicator calculates the Average RSI of the entire market structure. It answers one simple question: "Is the market predominantly Bullish or Bearish right now?"

⚙️ Core Components and Logic
This indicator works like a consensus mechanism for momentum:

• Data Aggregation: It pulls RSI values from 10 customizable slots (Default: 5m, 15m, 1h, 4h, 1D, 1W, 1M, 3M, 6M, 12M). All slots are enabled by default.
• Smart Averaging: It calculates the arithmetic mean of all active timeframes. If the 5m chart is bearish but the Monthly chart is bullish, this indicator balances them out to show you the net result.
  
• Histogram Visualization: The result is plotted as a histogram centered around the 50-line (Neutral).
  

🚦 How to Read the Histogram
The histogram bars indicate the aggregate strength of the trend based on the Average RSI:

🟩 DARK GREEN (Strong Bullish)

• Condition: Average RSI > 60.
  
• Meaning: The market is in a strong uptrend across most timeframes. Momentum is firmly on the buyers' side.
  

🟢 LIGHT GREEN (Weak Bullish)

• Condition: Average RSI between 50 and 60.
  
• Meaning: Slight bullish bias. The bulls are in control, but momentum is not yet extreme.
  

🔴 LIGHT RED (Weak Bearish)

• Condition: Average RSI between 40 and 50.
  
• Meaning: Slight bearish bias. The bears are taking control.
  

🟥 DARK RED (Strong Bearish)

• Condition: Average RSI < 40.
  
• Meaning: The market is in a strong downtrend across most timeframes. Momentum is firmly on the sellers' side.
  

Visual Elements

• Center Line (50): This acts as the Zero-Line. Above 50 is bullish, below 50 is bearish.
  
• Zone Lines (30/70): Dashed lines indicate the traditional Overbought/Oversold levels applied to the aggregate average.
  

Key Benefit
The Smart RSI Composite acts as a powerful Macro Trend Filter.
Pro Tip: Never go long if the Histogram is Dark Red, and avoid shorting when it is Dark Green. Use this tool to align your trades with the overall market momentum.


Have fun :)


Disclaimer
This "Smart RSI Composite" indicator is provided for informational and educational purposes only. It does not, and should not be construed as, financial, investment, or trading advice.
The signals generated by this tool (both "Buy" and "Sell" indications) are the result of a specific set of algorithmic conditions. They are not a direct recommendation to buy or sell any asset. All trading and investing in financial markets involves substantial risk of loss. You can lose all of your invested capital.
Past performance is not indicative of future results. The signals generated may produce false or losing trades. The creator (© DotGain) assumes no liability for any financial losses or damages you may incur as a result of using this indicator.
You are solely responsible for your own trading and investment decisions. Always conduct your own research (DYOR) and consider your personal risk tolerance before making any trades.