MTF RSI/MACD Momentum Scalper

MTF RSI/MACD Momentum Scalper is designed for multi-timeframe (MTF) trend analysis using the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators. It provides trading signals and visual cues for traders seeking to capitalize on short-term market momentum.

Key Features and How to Use:
1. Multi-Timeframe Analysis: The script uses three different timeframes to determine the trend (e.g., 5, 15 minutes). It combines the results of RSI and MACD indicators from these timeframes to confirm a strong trend before signaling potential trade opportunities.
- RSI identifies whether a market is in a bullish or bearish condition based on a 14-period length (default).
- MACD provides an additional layer of confirmation by comparing fast and slow moving averages, with customizable lengths.

2. Buy/Sell Signals: The script generates buy signals when all selected timeframes show a bullish trend (both RSI and MACD) and sell signals when all timeframes indicate a bearish trend. These signals are displayed as triangle shapes on the chart for easy identification.

3. Take Profit Signals: Separate signals for taking profits are available, activated when the trend reverses (bullish to bearish or vice versa). These are represented as square shapes on the chart.

4. Candle Color Changes: Optionally, the color of the candlesticks can be adjusted to reflect the prevailing trend, providing a visual cue for market conditions. Bullish candles are teal, bearish candles are red, and neutral conditions are gray.

5. Alert Conditions: The script includes customizable alert conditions for buy and sell signals, which can notify traders when to enter or exit positions.

Why It's Unique:
- Multi-Timeframe Trend Confirmation: Unlike other indicators that rely on a single timeframe, this script combines three timeframes for a more reliable trend analysis. This reduces the chances of false signals by ensuring that the market trend is consistent across different time periods.
- Visual and Alert-Based Signals: It not only changes the candle colors to match the trend but also provides both visual (on-screen) and alert-based notifications for buy, sell, and take-profit opportunities. This makes it easier for traders to make quick decisions.

Why It's Useful:
- Comprehensive Trend Analysis: The combination of RSI and MACD across multiple timeframes provides a robust method for identifying strong market trends, which is especially useful for momentum-based scalping strategies.
- Helps Manage Risk: With take-profit signals and clear buy/sell alerts, the script helps traders capture profits while avoiding the risk of holding positions too long.
- Customizable for Different Strategies: The user can adjust the parameters (e.g., RSI length, MACD settings, and timeframes) to tailor the script to their trading style and asset preferences.

In summary, the MTF RSI/MACD Momentum Scalper is a powerful tool for traders who focus on capturing short-term market movements. By using multi-timeframe analysis combined with popular technical indicators, it offers a more reliable and visually intuitive way to trade.