Multi TimeFrame RSI MT4 Indicator

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RSI Multi Time Frame Indicator/System

I am happy to share with you my latest indicator that I have developed. It’s called the OGT RSI Multi Time Frame Indicator.

The indicator provides an early warning indication that price MAY be about to reverse. It looks to see if the RSI is OB/OS on multiple time frames. The RSI can be customised to suit your trading needs.

You can also set how many additional time frames to check using the higer_TF_quantity input. For example if this was set to 2 then it would check the current time frame and the next 2 higher time frames.

Example: Current time frame = M5, it would only provide a signal when the M5, M15 and M30 are OB/OS simultaneously. The more time frames you select the less signals the indicator will provide.

I have created a tutorial video below that walks you through the indicator settings and all the signals it provided in November 2020 on the M5 EUR/JPY chart.

Please provide feedback on how I can improve this indicator and provide better quality signals.

OGT RSI MTF Indicator v1.0 Download & Tutorial

Multi Timeframe RSI

This indicator displays multi timeframe RSI for a symbol in a single separate indicator window.

Very easy to read and very easy to adapt for other oscillators (eg MACD,ATR, CCI etc) or line studies (eg multiple currency strength).

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    Binomo

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  • RSI Period;
  • Price to apply to (eg open, close, median etc);
  • Timeframes to display – display as many different time frames as you want! M1, D1, H4, M30 – anything!;
  • Number of bars displayed per timeframe (I find around 15 to be best but choice is yours);
  • Shift the graph to the hard right, despite of main chart shift setting;
  • Display the current period first;
  • Text color;
  • Seperator color (between timeframes);
  • Line colour;
  • Line width.

MT4 Indicators – Download Instructions

Multi Timeframe RSI is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.

Multi Timeframe RSI provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.

Based on this information, traders can assume further price movement and adjust their strategy accordingly.

How to install Multi Timeframe RSI.mq4?

  • Download Multi Timeframe RSI.mq4
  • Copy Multi Timeframe RSI.mq4 to your Metatrader Directory / experts / indicators /
  • Start or restart your Metatrader Client
  • Select Chart and Timeframe where you want to test your indicator
  • Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
  • Right click on Multi Timeframe RSI.mq4
  • Attach to a chart
  • Modify settings or press ok
  • Indicator Multi Timeframe RSI.mq4 is available on your Chart

How to remove Multi Timeframe RSI.mq4 from your Metatrader 4 Chart?

  • Select the Chart where is the Indicator running in your Metatrader Client
  • Right click into the Chart
  • “Indicators list”
  • Select the Indicator and delete

Download Metatrader 4 Trading Platform:

  • Free $30 To Start Trading Instantly
  • No Deposit Required
  • Automatically Credited To Your Account
  • No Hidden Terms

Multi-Timeframe RSI

Hey all, I’m pretty new to posting here but I’ve been lurking and learning for a little while now. I put together this simple multi-RSI template to easily visualize what’s happening with the pair as a whole. I don’t believe the market has a timeframe.

This RSI “system” is a work in progress. I don’t take credit for any of this, as I’m sure it has been done before. I have taken ideas from others and tried to fit them to my style.

I use this template that has a 5M, 15M, 30M, 1H, and 4H RSIs overlayed on each other in different colors. Thought I should name it something catchy with fire since it kind of resembles a flickering flame, but forget it. Haha.

Red – 5M
Orange – 15M
Yellow – 30M
Green – 1H
Blue – 4H

You may notice I also have Bollinger Bands on the chart, I haven’t really incorporated them too much. They just provide more ideas of support and resistance.

I tend to wait to trade around round number ending in 00 or 50. I wait for most or all of the RSIs to be oversold (below 30, putting more emphasis on the shorter timeframes). When 1 or 2 shorter time frames start to rise past 30 again I go long (opposite for short obviously).

Take profit I have quite figured out yet. I’ll most likely trail my stop behind the most recent support. Lot size is dependent on risk as stops will vary. I may take profit at major resistance.

Any ideas and modifications are welcome. We’re all in this together, let me know what you think!

EDIT: Forgot to mention, the RSIs only show past results on timeframes that are equal or greater. I use the 5M chart and attempt to grab 30-50 pips.

Currently long on USD/CAD.
EDIT: Got stopped out at breakeven. I’m aggresive with my breakevens because I feel capital preservation is number one. I’m willing to take many a breakeven trade and a few winners than instead of more winners and losers that lead to drawdown.

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  • Binarium
    Binarium

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  • Binomo
    Binomo

    อันดับที่ 2 ในการจัดอันดับ! นายหน้าที่เชื่อถือได้

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