azimuthdynamics

RSI Heatmap

Heatmap showing version measurement lengths of RSI (user selectable)

For each bar on the chart, the script calculates RSI at that point for multiple RSI lengths (e.g. 3, 7, 14, 16 etc) and displays them vertically top to bottom, fastest RSI to slowest RSI respectively. It indicates the actual RSI reading (0 to 100) by way of a colour (green for overbought, red for oversold).

So for example, if the indicator shows a cluster of reds, you know that price is oversold on several RSI lengths simultaneously.

Idea was taken from an article.
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sorry, got a part of the description the wrong way round. It should read:

>... multiple RSI lengths (e.g. 3, 7, 14, 16 etc) and displays them vertically BOTTOM to TOP, fastest RSI to slowest RSI respectively.
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