OPEN-SOURCE SCRIPT
Updated RSI with Close & Tail Divergences
RSI divergence is a cornerstone signal for both stock and cryptocurrency traders, renowned for its reliability.
The basis for measuring divergence can vary:
Depending on the criteria selected, the resultant signals can be markedly different.
Our innovative indicator offers:
With this tool, traders are empowered to make informed decisions, anchored in precise divergence cues.
This indicator boasts the following capabilities:
The basis for measuring divergence can vary:
- Historically, it's been determined by the candlestick's closing price.
- However, a contemporary approach uses the tail values, specifically the high and low prices, of the candlestick.
Depending on the criteria selected, the resultant signals can be markedly different.
Our innovative indicator offers:
- Divergence tracking based on the closing price of the candlestick.
- Divergence tracking considering the candlestick's peak and trough values.
- A unique convergence of both types of divergence signals.
With this tool, traders are empowered to make informed decisions, anchored in precise divergence cues.
This indicator boasts the following capabilities:
- Displays divergence based on closing price, highs/lows, as well as a unique combined criterion.
- Highlights pivot points.
- Denotes divergence spots on the RSI chart with lines.
- Offers a background color representation instead of labels.
Release Notes
RSI divergence is a cornerstone signal for both stock and cryptocurrency traders, renowned for its reliability.The basis for measuring divergence can vary:
- Historically, it's been determined by the candlestick's closing price.
- However, a contemporary approach uses the tail values, specifically the high and low prices, of the candlestick.
Depending on the criteria selected, the resultant signals can be markedly different.
Our innovative indicator offers:
- Divergence tracking based on the closing price of the candlestick.
- Divergence tracking considering the candlestick's peak and trough values.
- A unique convergence of both types of divergence signals.
With this tool, traders are empowered to make informed decisions, anchored in precise divergence cues.
This indicator boasts the following capabilities:
- Displays divergence based on closing price, highs/lows, as well as a unique combined criterion.
- Highlights pivot points.
- Denotes divergence spots on the RSI chart with lines.
- Offers a background color representation instead of labels.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.