RSI Divergence

RSI DIVERGENCE is a difference between a fast and a slow RSI . Default values are 5 for the fast one and 14 for the slow one.
You can use this indicator in 2 different ways:
  • normal RSI: check double or triple top/bottom on a chart meanwhile RSI is descending/ascending (check the example on chart)
  • signal line: when RSI Divergence cross zero line from bottom to top you get a buy signal (the line become green), vice versa when the RSI Divergence cross zero line in the opposite way you get a sell signal (the line become red)
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@Shizaru thanks for the nice code. Looks really great.
Is it possible that the script also draws the dotted line as in your example on two or three top / bottom ?

+29 Antworten
This looks amazing. I'm just wondering how to set the alert so that it triggers when the signal line changes colors (red to green/green to red). Does anyone have any experience setting this? Thanks!
+20 Antworten
AgeM jregan11
@jregan11, Did you solve this?
+6 Antworten
+4 Antworten
@AgeM, @jregan11 If you need a hand with this let me know. I'm happy to code something. Just PM me.
+2 Antworten
@jregan11, add this to the bottom of the script

divlong = divergence < 0 and divergence >=0
divshort = divergence > 0 and divergence <=0

alertcondition(divlong, title='Div Long', message='Div Long')
alertcondition(divshort, title='Div Short', message='Div Short')

data1 = divlong
plotshape(data1, style=shape.triangleup,location=location.bottom, color=green , title="DivUp")

data2 = divshort
plotshape(data2, style=shape.triangledown,, color=red,title="DivDown")
+1 Antworten
Excellent Indicator !!
Thank you.... nice indicator
thank you. super indicator.
pretty cool man, cheers
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