OPEN-SOURCE SCRIPT
Vishnu's Magics
**Vishnu's Magics** is a powerful RSI (Relative Strength Index) indicator designed to enhance trading strategies through effective divergence detection and alerting features. This indicator provides the following key functionalities:
1. **RSI Calculation**: Calculates the RSI over a customizable length, allowing traders to identify overbought and oversold conditions.
2. **Customizable Bands**: Users can set multiple upper and lower bands to define different overbought and oversold levels, facilitating precise trading decisions.
3. **Divergence Detection**: The indicator identifies both bullish and bearish divergences by comparing price action with RSI movements. It highlights these divergences on the chart, helping traders anticipate potential reversals.
4. **Visual Alerts**: When divergences are detected, the indicator visually marks the points on the chart with labeled shapes ("Bull" for bullish divergence and "Bear" for bearish divergence) and changes the background color to indicate the condition.
5. **Alert System**: Users can set alerts for significant events, such as crossing specified bands or detecting divergences, ensuring timely notifications for trading opportunities.
6. **Custom Line Values**: Traders can edit the values for the divergence lines, providing flexibility to tailor the indicator according to their trading strategies.
Overall, **Vishnu's Magics** serves as an intuitive tool for traders looking to leverage RSI analysis and divergence strategies for informed trading decisions.
1. **RSI Calculation**: Calculates the RSI over a customizable length, allowing traders to identify overbought and oversold conditions.
2. **Customizable Bands**: Users can set multiple upper and lower bands to define different overbought and oversold levels, facilitating precise trading decisions.
3. **Divergence Detection**: The indicator identifies both bullish and bearish divergences by comparing price action with RSI movements. It highlights these divergences on the chart, helping traders anticipate potential reversals.
4. **Visual Alerts**: When divergences are detected, the indicator visually marks the points on the chart with labeled shapes ("Bull" for bullish divergence and "Bear" for bearish divergence) and changes the background color to indicate the condition.
5. **Alert System**: Users can set alerts for significant events, such as crossing specified bands or detecting divergences, ensuring timely notifications for trading opportunities.
6. **Custom Line Values**: Traders can edit the values for the divergence lines, providing flexibility to tailor the indicator according to their trading strategies.
Overall, **Vishnu's Magics** serves as an intuitive tool for traders looking to leverage RSI analysis and divergence strategies for informed trading decisions.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.
Möchten Sie dieses Skript auf einem Chart verwenden?
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.