Does anyone have Multi Timeframe RSI?

[john3]

Hello,

If you guys have MTF RSI please post it. If not, would somebody please code it?

Thank you.

 

[horserider]

https://usethinkscript.com/threads/...rsi-indicator-for-thinkorswim.616/#post-14209

 

[john3]

@horserider Thank you, but it doesn't seem to be correct. I'm on 8 minutes and selected to plot RSI on 15 minutes. I have a separate 15-min chart with RSI on it, the MTF RSI doesn't match the one on 15 minutes.

 

[horserider]

MTF red/green simple RSI overlay white

 

[john3]

@horserider I've checked it again. It does not seem to match TOS' RSI on the same time frame.

Edit: I've found an issue and fixed it. Mobius' code uses a modified RSI not the original one, that was the issue.

 

[ashfordtrader]

@horserider @BenTen

I would like to see labels for RSI (length 14) for 5, 15, 30, 60, day, wk and Month. Lable color Green > 50 line and Red <50 line. I would like to add this to my price chart. Please help. Thank you.

 

[BenTen]

@ashfordtrader We don't have all of that prepared in one script for you. But this thread will help you get started https://usethinkscript.com/threads/display-rsi-label-on-thinkorswim.798/

 

[ashfordtrader]

@ashfordtrader We don't have all of that prepared in one script for you. But this thread will help you get started https://usethinkscript.com/threads/display-rsi-label-on-thinkorswim.798/

Thank you so much Ben. Here is the script I started. But, the 1min and 5 min RSI ended up with the same value. They should be different. What am I doing wrong? Thank you.

#Show/hide aggregation periods
input show1m  = yes;#Hint show1m:1 minute
input show2m  = yes;#Hint show2m:2 minutes
input show3m  = yes;#Hint show3m:3 minutes
input show4m  = yes;#Hint show4m:4 minutes
input show5m  = yes;#Hint show5m:5 minutes
input show10m = yes;#Hint show10m:10 minutes
input show15m = yes;#Hint show15m:15 minutes
input show20m = yes;#Hint show20m:20 minutes
input show30m = yes;#Hint show30m:30 minutes
input show60m = yes;#Hint show60m:1 hour
input show2hr = yes;#Hint show2hr:2 hours
input show4hr = yes;#Hint show4hr:4 hours
input show1d  = yes;#Hint show1d:1 day


### 1m timeframe ###
def tf1m = AggregationPeriod.MIN;

def rsi = reference RSI("over bought" = 95, "over sold" = 5, price = close(period = AggregationPeriod.MIN));
AddLabel(yes,"RSI1m ", if rsi >= 50 or rsi <= 50 then Color.RED else Color.GREEN);

### 5m timeframe ###
def tf5m = AggregationPeriod.five_MIN;

def rsi5 = reference RSI("over bought" = 95, "over sold" = 5, price = close(period = AggregationPeriod.FIVE_MIN));
AddLabel(yes, "RSI5m", if rsi >= 50 or rsi <= 50 then Color.RED else Color.GREEN);

 

[BenTen]

@ashfordtrader You probably didn't have the correct matching for each variable of the higher timeframe. Better if you post your entire script so we can take a look.

 

[ashfordtrader]

Thank you so much Ben. Here is the script I started. But, the 1min and 5 min RSI ended up with the same value. They should be different. What am I doing wrong? Thank you.

#Show/hide aggregation periods
input show1m  = yes;#Hint show1m:1 minute
input show2m  = yes;#Hint show2m:2 minutes
input show3m  = yes;#Hint show3m:3 minutes
input show4m  = yes;#Hint show4m:4 minutes
input show5m  = yes;#Hint show5m:5 minutes
input show10m = yes;#Hint show10m:10 minutes
input show15m = yes;#Hint show15m:15 minutes
input show20m = yes;#Hint show20m:20 minutes
input show30m = yes;#Hint show30m:30 minutes
input show60m = yes;#Hint show60m:1 hour
input show2hr = yes;#Hint show2hr:2 hours
input show4hr = yes;#Hint show4hr:4 hours
input show1d  = yes;#Hint show1d:1 day


### 1m timeframe ###
def tf1m = AggregationPeriod.MIN;

def rsi = reference RSI("over bought" = 95, "over sold" = 5, price = close(period = AggregationPeriod.MIN));
AddLabel(yes,"RSI1m ", if rsi >= 50 or rsi <= 50 then Color.RED else Color.GREEN);

### 5m timeframe ###
def tf5m = AggregationPeriod.five_MIN;

def rsi5 = reference RSI("over bought" = 95, "over sold" = 5, price = close(period = AggregationPeriod.FIVE_MIN));
AddLabel(yes, "RSI5m", if rsi >= 50 or rsi <= 50 then Color.RED else Color.GREEN);

Thank you Ben. This is the whole scrip:

#Show/hide aggregation periods
input show1m = yes;#Hint show1m:1 minute
input show5m = yes;#Hint show5m:5 minutes


### 1m timeframe ###
def tf1m = AggregationPeriod.MIN;

def rsi = reference RSI("over bought" = 95, "over sold" = 5, price = close(period = AggregationPeriod.MIN));
AddLabel(yes,"RSI1m ", if rsi >= 50 or rsi <= 50 then Color.RED else Color.GREEN);

### 5m timeframe ###
def tf5m = AggregationPeriod.five_MIN;

def rsi5 = reference RSI("over bought" = 95, "over sold" = 5, price = close(period = AggregationPeriod.FIVE_MIN));
AddLabel(yes, "RSI5m", if rsi >= 50 or rsi <= 50 then Color.RED else Color.GREEN);

 

[BenTen]

@ashfordtrader Here you go, take a look at this revised script:

#Show/hide aggregation periods

input show1m  = yes;#Hint show1m:1 minute

input show5m  = yes;#Hint show5m:5 minutes

### 1m timeframe ###

def tf1m = AggregationPeriod.MIN;

def rsi = reference RSI("over bought" = 95, "over sold" = 5, price = close(period = AggregationPeriod.MIN));

AddLabel(yes, Concat("RSI1 = ", rsi), color.orange);

### 5m timeframe ###

def tf5m = AggregationPeriod.five_MIN;

def rsi5 = reference RSI("over bought" = 95, "over sold" = 5, price = close(period = AggregationPeriod.FIVE_MIN));

AddLabel(yes, Concat("RSI5 = ", rsi5), color.orange);

Keep in mind that since you are using an MTF version, if you go to any timeframe higher than the timeframe indicated in your script, the labels will disappear.

 

[ashfordtrader]

Thank you so much Ben. When I am on 1 min chart, I see both 1min and 5 min labels, which is great. But when I go to 5min chart, both labels disappear. I was hoping to only see 5min RSI label. Is there any way to fix that?

 

[rad14733]

Thank you so much Ben. When I am on 1 min chart, I see both 1min and 5 min labels, which is great. But when I go to 5min chart, both labels disappear. I was hoping to only see 5min RSI label. Is there any way to fix that?

Not really... Your 1 min chart is the culprit... You can do higher on lower but not lower on higher as far as aggregation...

See if 1 & 5 and 3 & 5 work for you...

 

[ashfordtrader]

Not really... Your 1 min chart is the culprit... You can do higher on lower but not lower on higher as far as aggregation...

See if 1 & 5 and 3 & 5 work for you...

Thank you @rad14733. I can only see the 2 labels when I am on 1min chart.

 

[BenTen]

@ashfordtrader Because there are only two labels in the script. One for the 1m chart and the other for the 5m chart. Also, read my original comment regarding why the indicator may not work when you switch to a higher timeframe.