Multiple Time Frame StochRSI Signal

[ThemBonez]

Is it possible to create a signal using your StochRSI indicator that would give a signal if 2 timeframes are moving in same direction. For example, gives a signal when hour chart stochrsi is bullish or oversold AND the 15 min Stochrsi makes a reversal and turns bullish.

[Nikolay.Gekht]

First, I create the bigger frame stochastic RSI indicator to estimate the signal.
viewtopic.php?f=17&t=761

As far as I can see, the bigger timeframe indicator lags behind the higher time frame indicator. So, the conditions you described will, probably, never met, because the m15 indicator in your example turns earlier.

[aarons_alive]

Hi Nikolay,

What i think he might require is the option to determine an indicator for an independent timeframe, other than the one being observed. I have thought about this before as it would save monitor space when performing multiple timeframe analysis. For example, if i was looking at a 4hr chart and seen that a stochastic was oversold, then to eliminate some short term risk, i may then look at the 1hr timeframe stochastic to see if it too was oversold, again this might add some more upside confidence...finally i would wait until the 15min stochastic turns bullish from oversold levels and then start building a position, hopefully in the knowledge that I have entered at the start of the trend when risk/reward is highest.

Visually, you could compare it to aligning the individual oscillations of a slow, medium and fast plot of a moving sin wave over time; in this case the slow oscillation is 4 hr, medium is 1hr and fast is 15min. Again the problem here is screen space; 3 individual graphs take up space…and when you trade 7 instruments things get a bit silly. So, if I had the option of putting 3 stochastic indicators at the bottom of one graph(which we can already do), and had the option of changing the time parameter of each individual stochastic, ( I.e. one tracking the original 4hr time frame, one tracking the 1hr timeframe and the other for 15min) that would be optimal.