OPEN-SOURCE SCRIPT
RSI Divergence Simplified on Chart Side
RSI Divergences Simplified by rikyu04
Overview
Key Features
How to Use
Modifications from Original
License Information
This indicator is built upon Crypto_Sisyphe’s “[Sisyphe] RSI Divergences [Chart Side].” All modifications comply with MPL 2.0. Proper credit and licensing have been preserved.
Overview
• RSI Divergences Simplified is a refined version of Crypto_Sisyphe’s “[Sisyphe] RSI Divergences [Chart Side].”
• Updated to Pine Script v6, with adjustments to code structure for more accurate divergence signals.
Key Features
- Reliable RSI Divergence Detection: Identifies bullish/bearish divergences for potential reversals.
- Updated to Pine Script v6: Aligns with the latest standards for better compatibility.
- Simplified Codebase: Reduced complexity and enhanced readability.
- Accurate Signal Placement: Positions divergence arrows precisely at pivot points.
- Customizable Inputs: Easily tweak pivot bars, RSI levels, and lookback sensitivity.
How to Use
- Adjust Your Settings: Set Left/Right Bars for Pivots, RSI length, Oversold/Overbought levels, and Lookback level for your strategy.
- Interpret Signals: Green ↑ arrows = potential bullish divergence; red ↓ arrows = potential bearish divergence.
- Optional Pivot Display: Toggle Show pivot highs or Show pivot lows to visualize pivots.
Modifications from Original
- Migrated from Pine Script v4 to v6 for new features.
- Streamlined and adjusted code for clarity and improved functionality.
- Refined plotchar offsets for better signal accuracy.
- Removed unused elements for a cleaner structure.
License Information
This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/.
Original Code © Crypto_Sisyphe
Modified by rikyu04
This indicator is built upon Crypto_Sisyphe’s “[Sisyphe] RSI Divergences [Chart Side].” All modifications comply with MPL 2.0. Proper credit and licensing have been preserved.
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 publication is governed by House rules. You can favorite it to use it on a chart.
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Disclaimer
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