The RSI Template MTF indicator is used to know the current, past and future market trend opportunities at any time frame. This indicator allows traders to know the market trading possibilities on multiple timeframes.
RSI Template MTF Indicator
This is used for identifying that how much buy and sell points and how can we can move towards a good and beneficial trend strategy. It tells us the possible trend direction according to the situation in multiple time frames.
Working (overbought and oversold)
In this indicator there are RSI time series. These series goes overbought and oversold in multiple timeframes. There are two types of color series that are used to identify the overbought and oversold. The teal color series are used for oversold and the fuchsia color series are used for overbought. There are three levels for oversold and overbought this is also used to when the price will up and down.
Price up and Price down
When the RSI bars moves above the 70 then it tells that there is a great chance and possibilities of buy and the price can be gone up to high. On the other hand, when its moves below 30 then there are possibilities of low rate of price and market trading opportunities is less.