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RSI Div at Daily VWAP StDev

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Mean Reversion indicator based on RSI Divergences at Overbought/Oversold conditions with Price above/below a Standard Deviation from Daily VWAP. Useful for intra-day trading.

Signal criteria:
1. RSI is at Overbought/Oversold
2. RSI Divergence present (not hidden)
3. RSI has not reached Neutral level (i.e. 50)
4. Price has crossed above/below a Standard Deviation from Daily VWAP

Config Options:
- RSI length (default:14)
- Divergence Lookback Period (default:14)
- RSI Oversold/Overbought tresholds (default: 70/30)
- RSI Reset Level (default: 55/45)
- Use VWAP Std Dev (default: yes)
- Standard Deviation from Daily VWAP (default: 1.51)

Use with discretion.
Release Notes
Fixed filtering of divs under RSI Overbought/Oversold
Release Notes
Can choose Indicator Time Frame
Release Notes
fix reset when crossing neutral level
Release Notes
Fixes identification of divergences when 2nd SH/SL on RSI is not at extremes, as it is still a valid divergence.
Release Notes
bugfix: some bearish divergences where detected below overbought

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.