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Using a Multi-Timeframe RSI Dashboard to Compare Momentum

Article MQL5 code base
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Summary

The document describes an MT5 indicator that displays RSI readings across seven timeframes, from M1 through D1. Each timeframe is assigned a momentum category, ranging from oversold and bearish through neutral to bullish and overbought. Users can adjust RSI settings and thresholds.

The dashboard combines the readings into an average RSI and an overall momentum bias, and counts how many timeframes fall into each category. These features offer a compact view of whether momentum appears aligned across time horizons or mixed. The document provides a description of the tool’s features, but no performance tests, trading examples, or evidence that its classifications predict returns. It is an analysis aid only: it does not produce trade signals or manage positions, and RSI readings alone do not establish a trading edge.

Key ideas

  • The indicator compares RSI across seven timeframes, from M1 to D1.
  • Each timeframe is classified into a momentum state, including neutral and overbought or oversold conditions.
  • An average RSI and overall bias summarize readings across timeframes.
  • Category counts help show whether momentum is aligned or mixed.
  • The tool supports analysis but does not generate signals or manage trades.

Tags

Technical indicatorsMomentum

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.