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Bearish Shooting Range

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The Bearish Shooting Range is a multi-timeframe RSI-based indicator designed to detect potential bearish reversal zones when the market shows overbought conditions across several timeframes.

What It Does:
✅ Multi-Timeframe RSI Analysis: Monitors RSI values across six selectable timeframes simultaneously (default: 1min to 2hr).

✅ Overbought Signal Detection: Highlights a signal when any of the RSI values exceed your defined overbought threshold (default: 75).

✅ Visual Cue on Chart: When an overbought condition is detected on any timeframe, the background of the current candle is shaded red, indicating a possible bearish opportunity.

✅ Customizable Settings: You can modify the RSI length, overbought level, and all six timeframes directly in the input panel.

✅ Alert-Ready: Built-in alert condition lets you receive real-time notifications when an overbought RSI level is triggered on one or more timeframes.

This tool helps traders identify moments of potential exhaustion in upward momentum, especially when several timeframes align, making it ideal for bearish reversal setups and profit-taking strategies.

You will get the best results if you only use the 1 minute chart in settings and as timeframe.
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