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RozaniGhani-RG

RSI Divergence Method

RozaniGhani-RG Updated   
educational Oscillators Relative Strength Index (RSI) Divergence method object TYPE
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educational oscillator relativestrengthindex divergence method object type
█  OVERVIEW
This is a divergence indicator based on Relative Strength Index (RSI).
My attempt to make this indicator updated based on latest pine script features such as type, object and method.

█  FEATURES
1. Color of plot and label is based on contrast color of chart background. Able to customize color from style menu.
2. Big divergence (Regular Divergence) is based on lime / red color.
3. Small divergence (Hidden Divergence) is based on contrast color of chart background.

█  EXAMPLES / USAGES
snapshot
snapshot
Release Notes:
Correction for overlay.
Release Notes:
  • Add reference to prevent wrong historical data
  • Correction : bigBear false, kidBear : false
  • Compare with built-in Divergence Indicator for better understanding
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

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