OPEN-SOURCE SCRIPT
RSI Microstruttura MTF Auto
This indicator reads the RSI of the timeframes immediately below your chart to judge whether an RSI move is backed by real underlying momentum or likely to fail.
It auto-detects your chart timeframe and pulls the RSI from the 5 standard grades directly beneath it — no manual setup. On a daily chart it reads 4h, 3h, 2h, 1h and 45m.
Two lines are plotted. The thick line is the "micro" average: the mean RSI across those 5 lower timeframes. The orange line is the average of their moving averages (SMA 14 by default, matching the standard RSI's MA). The signal is their crossover, not a fixed level — when the micro crosses above its moving-average line, lower-timeframe momentum is turning up; below, it's turning down.
Crossovers are graded by internal agreement: a triangle marks a confirmed cross where the majority of lower grades sit on the same side of their own MA; an orange X marks a weak cross where the grades are split — the classic move that won't hold.
A side table lists every timeframe in use with its live RSI, color-coded by whether it has yet to cross up (green) or already has (red).
Works best on 15m and above, where all 5 lower grades exist. Alerts included for confirmed crosses.
It auto-detects your chart timeframe and pulls the RSI from the 5 standard grades directly beneath it — no manual setup. On a daily chart it reads 4h, 3h, 2h, 1h and 45m.
Two lines are plotted. The thick line is the "micro" average: the mean RSI across those 5 lower timeframes. The orange line is the average of their moving averages (SMA 14 by default, matching the standard RSI's MA). The signal is their crossover, not a fixed level — when the micro crosses above its moving-average line, lower-timeframe momentum is turning up; below, it's turning down.
Crossovers are graded by internal agreement: a triangle marks a confirmed cross where the majority of lower grades sit on the same side of their own MA; an orange X marks a weak cross where the grades are split — the classic move that won't hold.
A side table lists every timeframe in use with its live RSI, color-coded by whether it has yet to cross up (green) or already has (red).
Works best on 15m and above, where all 5 lower grades exist. Alerts included for confirmed crosses.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.