MTF RSI Indicator For Thinkorswim

[TradeUp]

Hi,
Does anyone have or can code a multi time frame RSi indicator? I saw this video and thought it might help with trading. Thanks.

 

[BenTen]

Try this code below. It's pulling the RSI from 10m, 30m, and hourly. Change it to whichever timeframe you want.

declare lower;


input length = 4;
input over_Bought = 70;
input over_Sold = 30;
input averageType = AverageType.WILDERS;
def NetChgAvg = MovingAverage(averageType, close(period = AggregationPeriod.FIVE_MIN) - close(period = AggregationPeriod.FIVE_MIN)[1], length);
def TotChgAvg = MovingAverage(averageType, AbsValue(close(period = AggregationPeriod.FIVE_MIN) - close(period = AggregationPeriod.FIVE_MIN)[1]), length);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;
plot RSI = 50 * (ChgRatio + 1);
plot OverSold = over_Sold;
plot OverBought = over_Bought;
RSI.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);

RSI.DefineColor("OverBought", Color.GREEN);
RSI.DefineColor("Normal", GetColor(7));
RSI.DefineColor("OverSold", Color.RED);
RSI.AssignValueColor(if RSI > over_Bought then RSI.Color("OverBought") else if RSI < over_Sold then RSI.Color("OverSold") else RSI.Color("Normal"));
OverSold.SetDefaultColor(GetColor(8));
OverBought.SetDefaultColor(GetColor(8));
RSI.SetLineWeight (4);
###############################################
input length15 = 4;
input over_Bought15 = 70;
input over_Sold15 = 30;
input averageType15 = AverageType.WILDERS;

def NetChgAvg15 = MovingAverage(averageType15, close(period = AggregationPeriod.TEN_MIN) - close(period = AggregationPeriod.TEN_MIN)[1], length15);
def TotChgAvg15 = MovingAverage(averageType15, AbsValue(close(period = AggregationPeriod.TEN_MIN) - close(period = AggregationPeriod.TEN_MIN)[1]), length15);
def ChgRatio15 = if TotChgAvg15 != 0 then NetChgAvg15 / TotChgAvg15 else 0;
plot RSI15 = 50 * (ChgRatio15 + 1);
#plot OverSold15 = over_Sold15;
#plot OverBought15 = over_Bought15;
RSI15.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);

RSI15.DefineColor("OverBought", Color.YELLOW);
RSI15.DefineColor("Normal", GetColor(7));
RSI15.DefineColor("OverSold", Color.RED);
RSI15.AssignValueColor(if RSI15 > over_Bought15 then RSI15.Color("OverBought") else if RSI15 < over_Sold15 then RSI15.Color("OverSold") else RSI15.Color("Normal"));
#OverSold15.SetDefaultColor(GetColor(8));
#OverBought15.SetDefaultColor(GetColor(8));
RSI15.SetLineWeight (3);

###############################################
input length30 = 4;
input over_Bought30 = 70;
input over_Sold30 = 30;
input averageType30 = AverageType.WILDERS;

def NetChgAvg30 = MovingAverage(averageType30, close(period = AggregationPeriod.THIRTY_MIN) - close(period = AggregationPeriod.THIRTY_MIN)[1], length30);
def TotChgAvg30 = MovingAverage(averageType30, AbsValue(close(period = AggregationPeriod.THIRTY_MIN) - close(period = AggregationPeriod.THIRTY_MIN)[1]), length30);
def ChgRatio30 = if TotChgAvg30 != 0 then NetChgAvg30 / TotChgAvg30 else 0;
plot RSI30 = 50 * (ChgRatio30 + 1);
#plot OverSold30 = over_Sold30;
#plot OverBough30 = over_Bought30;
RSI30.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
RSI30.DefineColor("OverBought", Color.GREEN);
RSI30.DefineColor("Normal", GetColor(7));
RSI30.DefineColor("OverSold", Color.RED);
RSI30.AssignValueColor(if RSI30 > over_Bought30 then RSI30.Color("OverBought") else if RSI30 < over_Sold30 then RSI30.Color("OverSold") else RSI30.Color("Normal"));
#OverSold30.SetDefaultColor(GetColor(8));
#OverBough30.SetDefaultColor(GetColor(8));
RSI30.SetLineWeight (3);
##################################################
############ HOUR #############################
input lengthh = 4;
input over_Boughth = 70;
input over_Soldh = 30;
input averageTypeh = AverageType.WILDERS;

#def NetChgAvgh = MovingAverage(averageTypeh, close(period = AggregationPeriod.hour) - close(period = AggregationPeriod.hour)[1], lengthh);
#def TotChgAvgh = MovingAverage(averageTypeh, AbsValue(close(period = AggregationPeriod.thirty_min) - close(period = AggregationPeriod.thirty_min)[1]), lengthh);

input price = close;

def NetChgAvgh = MovingAverage(averageType, price - price[1], length);
def TotChgAvgh = MovingAverage(averageType, AbsValue(price - price[1]), length);

def ChgRatioh = if TotChgAvgh != 0 then NetChgAvgh / TotChgAvgh else 0;
plot RSIh = 50 * (ChgRatioh + 1);
plot OverSoldh = over_Soldh;
plot OverBoughh = over_Boughth;
RSIh.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);

RSIh.DefineColor("OverBought", Color.GREEN);
RSIh.DefineColor("Normal", GetColor(7));
RSIh.DefineColor("OverSold", Color.RED);
RSIh.AssignValueColor(if RSIh > over_Boughth then RSIh.Color("OverBought") else if RSIh < over_Soldh then RSIh.Color("OverSold") else RSIh.Color("Normal"));
#OverSold30.SetDefaultColor(GetColor(8));
#OverBough30.SetDefaultColor(GetColor(8));
RSIh.SetLineWeight (5);
plot DL = 10;
DL.HideBubble();
DL.SetDefaultColor(Color.WHITE);
DL.SetLineWeight(3);

I got it from this page.

 

[diazlaz]

Thanks everyone. This topic brought up a question I had in mind and wanted to see if there is a workaround or Im approaching it wrong.

Seems the Aggregation Period in a Intraday can't access higher timeframe data and would need to have 2 charts one for lower time frame and the other for higher.

For example 1 min chart can't access aggregation of a daily or weekly (or at least have the data points to properly Calc the 14 points) when your in a 1 min?

Typing this on my phone so apologies in advance.

 

[hectorgasm]

It does not repaint. It's following a similar logic of the DMI indicator If anyone has further improvements I'd be happy to listen

Works better on short timeframes and with a 200 length over the 1 hour timeframe

declare lower;



##Originally created by gasmos





input ap = AggregationPeriod.DAY;

DEF mthopen = ((HIGHEST(CLOSE)-LOWEST(CLOSE(period = ap)[1])) + (LOWEST(CLOSE)-HIGHEST(CLOSE(period = ap)[1]))) ;







input length = 200;

input over_Bought = 70;

input over_Sold = 30;

def price = mthopen;

input averageType = AverageType.WILDERS;

input showBreakoutSignals = no;



def NetChgAvg = MovingAverage(averageType, price - price[1], length);

def TotChgAvg = MovingAverage(averageType, AbsValue(price - price[1]), length);

def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;



plot RSI = 50 * (ChgRatio + 1);

plot OverSold = over_Sold;

plot OverBought = over_Bought;

PLOT MIDLINE = 50;

plot UpSignal = if RSI crosses above OverSold then OverSold else Double.NaN;

plot DownSignal = if RSI crosses below OverBought then OverBought else Double.NaN;



UpSignal.SetHiding(!showBreakoutSignals);

DownSignal.SetHiding(!showBreakoutSignals);



RSI.DefineColor("OverBought", GetColor(5));

RSI.DefineColor("Normal", GetColor(7));

RSI.DefineColor("OverSold", GetColor(1));

RSI.AssignValueColor(if RSI > over_Bought then RSI.color("OverBought") else if RSI < over_Sold then RSI.color("OverSold") else RSI.color("Normal"));

OverSold.SetDefaultColor(GetColor(8));

OverBought.SetDefaultColor(GetColor(8));

UpSignal.SetDefaultColor(Color.UPTICK);

UpSignal.SetPaintingStrategy(PaintingStrategy.ARROW_UP);

DownSignal.SetDefaultColor(Color.DOWNTICK);

DownSignal.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);

 

[Ahmar824]

Just a question can you make MTF RSI with yearly, monthly, weekly and daily time frame?

 

[MerryDay]

@Ahmar824 You can use Post#2. It can be set to any timeframe greater than the current chart aggregation.