mrtools wrote: Thu Jan 02, 2025 5:56 am RSI Summed with Multi-timeframe & Alerts

Last try, in more ways than one !

ps) on the slower rsi's you may have to adjust the periods down a bit.

What is the RSI Summed indicator?

This code is based on Mladen's indicator.

The RSI "Summed" evaluates the NNN (next-nearest-neighbour) RSI values defined by the periods parameter to determine whether all NNN RSI values exceed or fall below a specified threshold. If all values are above the threshold, it indicates an upward state; conversely, if all values are below the designated low level, it indicates a downward state. If the values are mixed, the indicator reflects a Neutral state.

It can be contended that this state could be determined by examining only the slowest RSI; however, this is not always the case, as it significantly depends on the periods selected. Therefore, the indicator will assess all the specified RSI values.

The periods can be designated as a list separated by colons. The default setting is 14;15;16;17;18;19;20;21.

For the Stochastic version of this indicator please see here: Stochastic Summed for MT4.