Summary Script highlights the divergences in RSI worth taking notice of. By comparing current envionment to relative sample we can see more than the standard divergences that many catch through analysis. This framework aims to remove the bias or noise many see when looking for any supporting evidence to their given emotion on a market.
Step-by-Step Walkthrough
Calculates RSI
Sets Divergence Framework
-------> a. Defining variable values, mandatory in Pine 4)
-------> b. Identify Divergences --> "If bar with lowest / highest is current bar, use it's value"
Compare high of current bar being examined with previous bar's high --> "If curr bar high is higher than the max bar high in the lookback window range"
Finds pivot point with at least 2 right candles with lower value
Finds pivot point with at least 2 right candles with lower value
Plot
Set Alerts
This RSI Script is intended for public use and can be shared / implemented as needed Questions? I do not monitor my TradingView inbox. See email address in signature at the bottom of this page for contact information.
Notas de Lançamento
⋅
Complete Upgrade - Logic restructured and implemented.
Notas de Lançamento
⋅
upgraded to pine v5
Notas de Lançamento
⋅
Added Alert Parameters
Notas de Lançamento
⋅
Updating to include the same functionality that the built-in Tradingview RSI Indicator has standard, with SMA/EMA/BBand 'switch' function has recently added + cleaned up some of the syntax to be in alignment with the Pinecoders recommendations.
If the former versions are preferred, simply copy the old pinescript and add as your own indicator.
your indicator is late....not show divegence after divergence candle close
BadgerTrader
⋅
Hey Kingthies, great script, however just testing this and it seems to only print the hidden divergences after 4 to 5 bars more and not actually on the close of the bar where HD occurs?
Is this right? Or any thoughts on this?
Cheers Gaz
evolutionman5
⋅
Is this indicator still late with the print of the signals or it has been fixed ?
HeadGames
⋅
bar input does nothing
wasifnaeem
⋅
This is an amazing indicator but with the recent changes it has stopped showing divergence bars, rather it is showing some sort of dot. Please fix. Thanks
@kingthies, Thanks man. Would you please add a new feature to this indicator. Like marking the price as you're doing on RSI, you can enclose the price in a box i.e. red for bearish and hidden bearish divergence and green for bullish and hidden bullish divergence and also put an option to enable or disable this feature as some may not like it on price. I hope you got my point.
booraaditya2022
⋅
Thank you brother, it's a much needed code
Sure_Shot_FX
⋅
hi Brother MT4 Version Required Please
thyanil121
⋅
can this be made multitimeframe, means on 5min time frame , 5min rsi div. and 1hr rsi div. can be seen simultaneously.