Multi Time Frame RSI is based on Concept of capturing Higher Time frame Momentum. Generally Higher TF Trends are more reliable and long
This strategy get the Monthly Weekly Daily and Current Time frame RSI and then trade on lower time frame taking as base of Higher TF
For Monthly, Weekly and Daily TF => RSI is set to = 40 for Lower TF => Upper RSI is = 65 Lower RSI is = 45
Trading Logic Long = Current RSI > ( upper RSI and Monthly, Weekly and Daily TF RSI ) Short = Current RSI < ( Lower RSI and Monthly, Weekly and Daily TF RSI ) Brokerages Set to = 0.03%
Risk Mgmt=> Per trade risk = 5000 Rs Alert=> alert are coded once you schedule TV alert, following singnal will get generated at current TF Candle close
Long = LE, Close Long = LX Short = SE, Close Short= SX
For Bank Nifty = 1 hrs TF is preffered and Nifty = 15 Min TF