RSI Divergence Simplified on Chart Side

vor 11 Stunden

RSI Divergences Simplified by rikyu04

Overview

• RSI Divergences Simplified is a refined version of Crypto_Sisyphe’s “[Sisyphe] RSI Divergences [Chart Side].”
• Updated to Pine Script v6, with adjustments to code structure for more accurate divergence signals.

Key Features

• Reliable RSI Divergence Detection: Identifies bullish/bearish divergences for potential reversals.
  
• Updated to Pine Script v6: Aligns with the latest standards for better compatibility.
  
• Simplified Codebase: Reduced complexity and enhanced readability.
  
• Accurate Signal Placement: Positions divergence arrows precisely at pivot points.
  
• Customizable Inputs: Easily tweak pivot bars, RSI levels, and lookback sensitivity.
  

How to Use

• Adjust Your Settings: Set Left/Right Bars for Pivots, RSI length, Oversold/Overbought levels, and Lookback level for your strategy.
  
• Interpret Signals: Green ↑ arrows = potential bullish divergence; red ↓ arrows = potential bearish divergence.
  
• Optional Pivot Display: Toggle Show pivot highs or Show pivot lows to visualize pivots.
  

Modifications from Original

• Migrated from Pine Script v4 to v6 for new features.
  
• Streamlined and adjusted code for clarity and improved functionality.
  
• Refined plotchar offsets for better signal accuracy.
  
• Removed unused elements for a cleaner structure.
  

License Information

This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/.
Original Code © Crypto_Sisyphe
Modified by rikyu04

This indicator is built upon Crypto_Sisyphe’s “[Sisyphe] RSI Divergences [Chart Side].” All modifications comply with MPL 2.0. Proper credit and licensing have been preserved.