Multi-Timeframe RSI Confluence Scanning and Alert Use
Summary
The document describes an MT5 indicator that tracks RSI across as many as seven timeframes and shows the readings in a chart dashboard. It flags overbought and oversold levels and raises a convergence warning when at least three monitored timeframes reach the same extreme. Alerts can be sent by push notification, email, or sound, with limited retries for temporary failures.
The author recommends treating convergence as confirmation and waiting for price action, such as rejection or a break of structure, before entering. They suggest using higher-timeframe RSI as a check against countertrend trades and adjusting thresholds to the instrument. The evidence is the author's reported use on live accounts and several markets; no controlled performance results or backtest are provided. The indicator is a scanner rather than a complete trading system, does not detect divergence, and depends on fresh market data and a functioning terminal for alerts.
Key ideas
- The scanner compares RSI readings across selected timeframes and marks overbought or oversold conditions.
- A warning appears when three or more timeframes share the same extreme condition.
- The author advises using price action to confirm a setup and higher-timeframe RSI to assess countertrend risk.
- Alerts can use push, email, or sound channels, with retries for some temporary delivery failures.
- The tool provides signals for review but does not define entries, exits, or a complete trading strategy.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.