RicardoSantos

[RS]RSI Divergence Candles V2

Update: added midline, changed some OB/OS lines color.
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study(title="[RS]RSI Divergence Candles V2")
useHL = input(title='Use high/low series for mapping the wicks?', type=bool, defval=false)
src = input(title='Source Series:', type=source, defval=close)
fast_length = input(title='Fast Length:', type=integer, defval=8)
slow_length = input(title='Slow Length:', type=integer, defval=55)
smooth = input(title='Smooth:', type=integer, defval=10)
overbought = input(title='Overbought Level:', type=float, defval=70)
oversold = input(title='Oversold Level:', type=float, defval=30)

fast_rsi = rsi(src, fast_length)
slow_rsi = rsi(src, slow_length)

smooth_fast_rsi = sma(fast_rsi, smooth)
smooth_slow_rsi = sma(slow_rsi, smooth)

rsi_high = useHL ? max(rsi(high, fast_length), rsi(high, slow_length)) : max(fast_rsi, slow_rsi)
rsi_low = useHL ? min(rsi(low, fast_length), rsi(low, slow_length)) : min(fast_rsi, slow_rsi)
//#9ce0b2//#e0b29c
isBull=smooth_fast_rsi>=smooth_slow_rsi
isExp=abs(smooth_fast_rsi-smooth_slow_rsi)>=abs(smooth_fast_rsi[1]-smooth_slow_rsi[1])
plotcandle(smooth_slow_rsi, rsi_high, rsi_low, smooth_fast_rsi, title='rsi bars', color=isBull and isExp?green:isBull and not isExp?#9ce0b2:not isBull and isExp?maroon:#e0b29c)

hline(100, color=black)
hline(overbought, color=maroon)
hline(50, color=gray)
hline(oversold, color=green)
hline(0, color=black)
mgonzalez0521
a year ago
whats the strategy for this?
Reply
RicardoSantos PRO mgonzalez0521
a year ago
same as RSI divergence, the difference is only instead of lines there is candles :)
Reply
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