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!

本着真正的TradingView精神,该脚本的作者将其开源发布,以便交易者可以理解和验证它。为作者喝彩!您可以免费使用它,但在出版物中重复使用此代码受网站规则的约束。 您可以收藏它以在图表上使用。