Welcome to my MultiSpike indicator for low time frames.
RERSI was first developed by Giorgos Siligardos in the June 2003 issue of Stocks and Commodities Magazine.
RERSI draws lines on the price chart reflecting the levels of the RSI.
However, this is a modification of the original mathematical model, which gives very clear signals when the box should be displayed and when not,
So the indicator gives very clear signals when there is a resistance/support situation.
In the standard RERSI the whole screen is flooded with information, here only the most important parts are filtered.
There are 8 different time frames that can be selected, which in total can give you a very clear picture of when to buy and sell, and even give you some preparation time as it reacts just before reaching a limit.
In the current screenshot, you can see that the 1-minute and 15-minute timeframes are enabled, as they provide the best clues for this asset.
The Low Time Frame preset can be used from the 15-second chart to the 15-minute chart.
To learn this indicator, it is necessary to watch it for a few hours (1-2 days), as the clues are rather visual and depend on the direction of the spikes to the current candle.
If a spike points in the direction of the candle, it is a valid spike, vica verca, if it moves away from the candle, it may want to pass.
Especially for intraday traders who use, for example, a 15-second chart, this indicator is very suitable, but also for long-term trades, because here the early signal is also advantageous.
this indicator is exactly the same as the highTF version, but the preselected time frame.... so you don't have to buy both.
lowtf uses 1min to 2h - hightf uses 60 to 1D
Should be look like this if setup is correct
p.s.: the "Simple Forecast - Keltner Worms" are a perfect background for this indicator and increase the visibility of the spikes.
Thanks RicardoSantos for creating this great script, I still use it every day
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How to get this indicator:
Use the web page from my profile
//////////////////////////////////////
RERSI was first developed by Giorgos Siligardos in the June 2003 issue of Stocks and Commodities Magazine.
RERSI draws lines on the price chart reflecting the levels of the RSI.
However, this is a modification of the original mathematical model, which gives very clear signals when the box should be displayed and when not,
So the indicator gives very clear signals when there is a resistance/support situation.
In the standard RERSI the whole screen is flooded with information, here only the most important parts are filtered.
There are 8 different time frames that can be selected, which in total can give you a very clear picture of when to buy and sell, and even give you some preparation time as it reacts just before reaching a limit.
In the current screenshot, you can see that the 1-minute and 15-minute timeframes are enabled, as they provide the best clues for this asset.
The Low Time Frame preset can be used from the 15-second chart to the 15-minute chart.
To learn this indicator, it is necessary to watch it for a few hours (1-2 days), as the clues are rather visual and depend on the direction of the spikes to the current candle.
If a spike points in the direction of the candle, it is a valid spike, vica verca, if it moves away from the candle, it may want to pass.
Especially for intraday traders who use, for example, a 15-second chart, this indicator is very suitable, but also for long-term trades, because here the early signal is also advantageous.
this indicator is exactly the same as the highTF version, but the preselected time frame.... so you don't have to buy both.
lowtf uses 1min to 2h - hightf uses 60 to 1D
Should be look like this if setup is correct
p.s.: the "Simple Forecast - Keltner Worms" are a perfect background for this indicator and increase the visibility of the spikes.
Thanks RicardoSantos for creating this great script, I still use it every day
![[RS]Simple Forecast - Keltner Worms](https://s3.tradingview.com/e/EQlOGqrF_big.png)
//////////////////////////////////////
How to get this indicator:
Use the web page from my profile
//////////////////////////////////////
Versionshinweise:
Update for use in the System
You can now select the Output-Channels you want to map into the x8 or x16 processor
There are 2 different output Levels:
Level 1: Signal of the minor Spike long/short
Level 2: Signal of the major Spike long/short
--> so we have 4 possible signals you can map to 4 Channels.
Input Parameters as always for MBS: NoInput or Multibit
we have lost one Timeframe of Spikes, as the limit of 64 Plotchannels was hit.
as for the multibit implementation i need some, this is the downside... but a minor loss in exchange for the mbs integration.
here you can see the signals and the wicks at the same time
reduced down to only the signals:
You can now select the Output-Channels you want to map into the x8 or x16 processor
There are 2 different output Levels:
Level 1: Signal of the minor Spike long/short
Level 2: Signal of the major Spike long/short
--> so we have 4 possible signals you can map to 4 Channels.
Input Parameters as always for MBS: NoInput or Multibit
we have lost one Timeframe of Spikes, as the limit of 64 Plotchannels was hit.
as for the multibit implementation i need some, this is the downside... but a minor loss in exchange for the mbs integration.
here you can see the signals and the wicks at the same time
reduced down to only the signals:
Versionshinweise:
libary update