DMM-RSI Next candle Price Divergence

488 3 49
A beta script which Indicates if the next candle will be a red candle or Not
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study(title='DMM-MACD Price Divergence')
src = input(close)
fast = input(12)
slow = input(26)
smooth = input(9)

f_top_fractal(_src)=>_src[4] < _src[2] and _src[3] < _src[2] and _src[2] > _src[1] and _src[2] > _src[0]
f_bot_fractal(_src)=>_src[4] > _src[2] and _src[3] > _src[2] and _src[2] < _src[1] and _src[2] < _src[0]
f_fractalize(_src)=>f_top_fractal(_src) ? 1 : f_bot_fractal(_src) ? -1 : 0
Top_RSI = ((rsi(src,1)-rsi(src,2))/rsi(src,2))
Signal12= (change/Top_RSI)*100
fast_ma = sma(src, fast)
slow_ma = sma(src, slow)
macd = fast_ma-slow_ma
signal = ema(macd, smooth)
hist = macd - signal

fractal_top = f_fractalize(hist) > 0 ? hist[2] : na
fractal_bot = f_fractalize(hist) < 0 ? hist[2] : na
high_prev = valuewhen(fractal_top, hist[2], 1) 
high_price = valuewhen(fractal_top, high[2], 1)
low_prev = valuewhen(fractal_bot, hist[2], 1) 
low_price = valuewhen(fractal_bot, low[2], 1)

regular_bearish_div = fractal_top and high[2] > high_price and hist[2] < high_prev
hidden_bearish_div = fractal_top and high[2] < high_price and hist[2] > high_prev
regular_bullish_div = fractal_bot and low[2] < low_price and hist[2] > low_prev
hidden_bullish_div = fractal_bot and low[2] > low_price and hist[2] < low_prev

plot(title='Signal12', series=Signal12, color=orange)
Interesting concept.. so any spike would forecast (or NOT) a red candle or a downtrend? What should be the value of the spike?
Any Spike would forecast that there would be an immediate reversal within 1-2 candles. The value of spike varies widely depending on volatility of the stock and which time period chosen. But any spike above 1000 is a good candidate for one without a lot of volatility
cristian.d PerpetualLearner
Thanks PL
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