OPEN-SOURCE SCRIPT
Double Basics - Identify Overbought & Oversold - Multitimeframe
I believe that everyone should monitor the basic indicators; EMA/SMA cross, BB and RSI on at least TWO timeframes before making any trading decisions. And because that is only possible on paid subscriptions, I created this indicator for people just getting started.
It allows you to plot all of the mentioned AND 2 weeklies of your choice on 1 chart INCLUDING a higher timeframe, using only 1 indicator.
The EMA's are plotted as ORANGE and the SMA's as BLACK, you can distinguish them by the line size, thin is current chart, thick is higher timeframe.
Same for the Bollinger Bands, Upper lines are red (overbought = sell signal) and bottom lines are green (oversold = buy signal)
The RSI, normally plotted in its own window, are plotted on the scale of the BB of the 2nd timeframe, where the bottom line = 0, upper line = 100 and middle (think black) line = 50. The thin purple line is the RSI of the chart resolution, the thicker purple line is the RSI of the 2nd timeframe.
Finally, the two weeklies are plotted as thick black lines.
Enjoy, and let me know your feedback!
It allows you to plot all of the mentioned AND 2 weeklies of your choice on 1 chart INCLUDING a higher timeframe, using only 1 indicator.
The EMA's are plotted as ORANGE and the SMA's as BLACK, you can distinguish them by the line size, thin is current chart, thick is higher timeframe.
Same for the Bollinger Bands, Upper lines are red (overbought = sell signal) and bottom lines are green (oversold = buy signal)
The RSI, normally plotted in its own window, are plotted on the scale of the BB of the 2nd timeframe, where the bottom line = 0, upper line = 100 and middle (think black) line = 50. The thin purple line is the RSI of the chart resolution, the thicker purple line is the RSI of the 2nd timeframe.
Finally, the two weeklies are plotted as thick black lines.
Enjoy, and let me know your feedback!
開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。
開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。