RSI Arrow Signals (Daily & Weekly)

📘 Indicator Overview

This indicator identifies oversold conditions using RSI on two higher timeframes and plots visual signals directly on the chart. It is designed for traders who want to track multi-timeframe RSI exhaustion without switching charts.

🔍 How It Works

1. Daily RSI Signal (Orange Arrow)
The script pulls Daily RSI using request.security().
When the Daily RSI closes at 30 or below, an orange upward arrow is displayed beneath the bar.

2. Weekly RSI Signal (Red Arrow)
The script also retrieves Weekly RSI.
When the Weekly RSI closes at 30 or below, a red upward arrow appears beneath the bar.
Both signals use confirmed candle data to reduce repainting.


🎯 Purpose

This tool highlights potential oversold reversal zones across two key timeframes.
It helps traders quickly identify moments when price may be stretched to the downside on Daily or Weekly context


⚙️ Features

Multi-timeframe RSI (Daily & Weekly)
Color-coded arrow signals for quick visual recognition
Optional alert conditions for automated notifications
Works on any chart timeframe via request.security()
Repaint-safe (no lookahead_on)


📌 Important Notes
Signals only appear after the Daily or Weekly candle closes.
This indicator is not a buy/sell system; it serves as a market condition signal.
Use together with your own risk management and additional confluence.

*this indicator is helped by GPT