Smart RSI MTF [DotGain]

Summary
Are you tired of constantly switching between timeframes to check the RSI, only to miss the bigger picture?

The Smart RSI MTF (Multi-Timeframe) is designed to solve this exact problem. It is a streamlined chart overlay that monitors RSI conditions across up to 10 different timeframes simultaneously—from the 1-minute chart all the way up to the Monthly view.

This indicator removes the need for multiple open tabs and declutters your analysis by plotting signals directly on your main chart using a smart "visual hierarchy" system based on transparency.

⚙️ Core Components and Logic
The Smart RSI MTF relies on a sophisticated 3-layer logic to deliver clear, actionable context:

• Multi-Timeframe Engine: The script runs 10 independent RSI calculations in the background. It checks standard intervals (5m, 15m, 1h, 4h, Daily, Weekly, Monthly) to ensure you never miss a momentum extreme on any scale.
  
• Classic RSI Thresholds:Overbought (> 70): Indicates price may be extended to the upside.
  Oversold (< 30): Indicates price may be extended to the downside.
  
• Smart Visibility System (The "Secret Sauce"): Not all signals are equal. A 5-minute Overbought signal is "noise" compared to a Weekly Overbought signal. This indicator automatically applies Transparency to differentiate importance:
  Minutes = High Transparency (Faint).
  Hours = Medium Transparency.
  Days/Weeks/Months = No Transparency (Solid/Bold).
  

🚦 How to Read the Indicator
The indicator plots shapes (Labels by default) directly above or below the candles. The appearance tells you the direction and the timeframe significance:

🟥 RED SIGNALS (Overbought Condition)

• Trigger: RSI is above 70 on a specific timeframe.
  
• Location: Placed above the candle bar.
  
• Meaning: Potential bearish reversal or pullback.
  

🟩 GREEN SIGNALS (Oversold Condition)

• Trigger: RSI is below 30 on a specific timeframe.
  
• Location: Placed below the candle bar.
  
• Meaning: Potential bullish reversal or bounce.
  

👻 TRANSPARENCY (Signal Strength)

• Faint/Ghostly: The signal comes from a lower timeframe (e.g., 5m, 15m). Use for scalping or entry timing.
  
• Solid/Bright: The signal comes from a major timeframe (e.g., Daily, Weekly). Use for swing trading and identifying major market turns.
  

Visual Elements

• Symbol Shapes: Fully customizable (Label, Diamond, Circle, Triangle, etc.) via settings.
  
• Stacking: If multiple timeframes trigger at once, symbols will overlay, creating a visually denser and darker color, indicating Confluence.
  

Key Benefit
The goal of the Smart RSI MTF is to help traders instantly spot Confluence. When you see a faint short-term signal align with a solid long-term signal, you have identified a high-probability reversal zone without leaving your chart.


Have fun :)


Disclaimer
This "Smart RSI MTF" 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.