RicardoSantos

[RS]RSI Divergence V5

EXPERIMENTAL: RSI divergence detection :P
Remove from Favorite Scripts Add to Favorite Scripts
study(title='[RS]RSI Divergence V5')
length = input(5)

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

rsi_high = rsi(high, length)
rsi_low = rsi(low, length)
fractal_top_rsi = f_fractalize(rsi_high) > 0 ? rsi_high[2] : na
fractal_bot_rsi = f_fractalize(rsi_low) < 0 ? rsi_low[2] : na

rsi_high_prev = valuewhen(fractal_top_rsi, rsi_high[2], 1) 
rsi_high_price = valuewhen(fractal_top_rsi, high[2], 1)
rsi_low_prev = valuewhen(fractal_bot_rsi, rsi_low[2], 1) 
rsi_low_price = valuewhen(fractal_bot_rsi, low[2], 1)

regular_bearish_div = fractal_top_rsi and high[2] > rsi_high_price and rsi_high[2] < rsi_high_prev
hidden_bearish_div = fractal_top_rsi and high[2] < rsi_high_price and rsi_high[2] > rsi_high_prev
regular_bullish_div = fractal_bot_rsi and low[2] < rsi_low_price and rsi_low[2] > rsi_low_prev
hidden_bullish_div = fractal_bot_rsi and low[2] > rsi_low_price and rsi_low[2] < rsi_low_prev

plot(title='RSI High', series=rsi_high, color=gray)
plot(title='RSI Low', series=rsi_low, color=gray)
plot(title='RSI H F', series=fractal_top_rsi, color=black, offset=-2)
plot(title='RSI L F', series=fractal_bot_rsi, color=black, offset=-2)
plot(title='RSI H D', series=fractal_top_rsi, style=circles, color=regular_bearish_div or hidden_bearish_div ? maroon : gray, linewidth=3, offset=-2)
plot(title='RSI L D', series=fractal_bot_rsi, style=circles, color=regular_bullish_div or hidden_bullish_div ? green : gray, linewidth=3, offset=-2)

plotshape(title='+RBD', series=regular_bearish_div ? rsi_high[2] : na, text='Regular', style=shape.labeldown, location=location.absolute, color=maroon, textcolor=white, offset=-2)
plotshape(title='+HBD', series=hidden_bearish_div ? rsi_high[2] : na, text='hidden', style=shape.labeldown, location=location.absolute, color=maroon, textcolor=white, offset=-2)
plotshape(title='-RBD', series=regular_bullish_div ? rsi_low[2] : na, text='Regular', style=shape.labelup, location=location.absolute, color=green, textcolor=white, offset=-2)
plotshape(title='-HBD', series=hidden_bullish_div ? rsi_low[2] : na, text='hidden', style=shape.labelup, location=location.absolute, color=green, textcolor=white, offset=-2)
Excellent!
Can you do this with MACD? Shouldn't be too complicated, right?
Reply
yea should be easy to adapt, tomorrow :p
Reply
IvanLabrie PRO RicardoSantos
Excellent, I prefer MACD for this type of readings, more responsive than RSI. RSI default settings and the techniques that Constance Brown/Cardwell use are quite good though.
Reply
How about stochastics?
Reply
sure
Reply
In addition to the price oscillators would you consider creating some of your divergence indicators for Volume and/or William's Accumulation-Distribution that can coincide and sometimes lead price?
Reply
RicardoSantos PRO Alphaoptions
i can take a look into it, and see how it goes :)
Reply
It's a really nice indicator! Is it possible to wrap some Bollinger Bands around it? :)
Reply
RicardoSantos PRO AleksanderThor
ty, ill add it as a option.
Reply
AleksanderThor PRO RicardoSantos
Thank you! :)
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out