TIL Multi RSI Indicator

TIL Multi RSI indicator applies RSI to 28 currency pairs all at once and displays the most current signal of each one in a two-column list. The currency pairs involved are the combinations of the eight major currencies (USD, EUR, GBP, CHF, JPY, CAD, AUD, and NZD). All the currency pairs are sorted automatically from the one with the highest signal down to the one with the lowest signal in a two-column list starting from the top left to the bottom right.

Just a quick recap on what the Relative Strength Index or the RSI is: It is a technical indicator that attempts to determine whether an asset is overbought or oversold. Its signal oscillates in the range of 0 to 100. A currency pair is said to be overbought if the RSI signal is 70 or above and is said to be oversold if the RSI signal is 30 or below.

With TIL Multi RSI, you can easily spot trading opportunities across the 28 currency pairs in one glance! Just observe the following properties of the indicator:

Order: The indicator displays the most current RSI signal of each currency pair which is sorted from highest to lowest. This means that those that are positioned at the left-hand side of the list are closer to the overbought level (70). Likewise, the currency pairs that are positioned at the right-hand side of the list are closer to the oversold level (30).

Color: Each currency pair is color coded depending on the signal of its RSI.

• Bright Red - RSI is equal to or greater than 70. This is a bearish signal which suggests that the currency pair is overbought.
• Dark Red - RSI is near the overbought level. This suggests that you may have to watch out for this currency pair as its signal approaches 70.
• Grey - RSI is nowhere near overbought or oversold levels.
• Bright Green - RSI is equal to or less than 30. This is a bullish signal which suggests that the currency pair is oversold.
• Dark Green - RSI is near the oversold level. This suggests that you may have to watch out for this currency pair as it approaches 30.

Text: Not only does TIL Multi RSI displays the most current RSI signal of each of the 28 currency pairs, but it also shows you its DIRECTION and MAGNITUDE by looking at the value indicated in the parenthesis. Each listed item is written in the following notation: <symbol>: <RSI signal> (+/-<orientation>). Please take note of the following:

• <symbol> - this is the symbol of the currency pair.
• <RSI signal> - this is the most current RSI signal of the corresponding currency pair.
• +/-<orientation> - this tells you the direction and the magnitude of the corresponding currency pair's RSI signal. It answers the question, "Is it pointing up or down?"
  • Orientation - this is the amount of change that had taken place since the last bar's RSI signal relative to the most current one.
  • Positive orientation (+) - if the orientation is positive, it means that the last bar's RSI signal is less than the current one. In other words, the currency pair's RSI is going UPWARDS.
  • Negative orientation (-) - if the orientation is negative, it means that the last bar's RSI is greater than the current one. In other words, the currency pair's RSI is going DOWNWARDS.