OPEN-SOURCE SCRIPT
Updated RSI Divergences (Regular, Hidden, Exaggerated)
RSI Divergences (Regular, Hidden, Exaggerated)
This indicator detects and visually highlights all major types of RSI divergences on your chart: Regular, Hidden, and Exaggerated divergences, both bullish and bearish.
Key Features:
Calculates RSI based on a user-defined length and timeframe that automatically matches your chart's timeframe.
Identifies pivot highs and lows on both price and RSI using customizable pivot left/right bars.
Detects divergences when RSI and price movements disagree, signaling potential trend reversals or continuation.
Differentiates between three types of divergences:
Regular Divergence: Classic signal for possible trend reversal.
Hidden Divergence: Often indicates trend continuation.
Exaggerated Divergence: A less common form signaling momentum changes.
Draws clear colored lines and labels on the RSI pane for each divergence, using green for bullish and red for bearish signals.
Includes RSI overbought (70) and oversold (30) bands with gradient fills to help visualize RSI zones.
Efficient use of arrays to track pivots and manage plotting history for smooth performance.
Usage:
Ideal for traders looking to leverage RSI divergences for better timing entries and exits in trending and range-bound markets. The script is fully customizable and works seamlessly across different timeframes
This indicator detects and visually highlights all major types of RSI divergences on your chart: Regular, Hidden, and Exaggerated divergences, both bullish and bearish.
Key Features:
Calculates RSI based on a user-defined length and timeframe that automatically matches your chart's timeframe.
Identifies pivot highs and lows on both price and RSI using customizable pivot left/right bars.
Detects divergences when RSI and price movements disagree, signaling potential trend reversals or continuation.
Differentiates between three types of divergences:
Regular Divergence: Classic signal for possible trend reversal.
Hidden Divergence: Often indicates trend continuation.
Exaggerated Divergence: A less common form signaling momentum changes.
Draws clear colored lines and labels on the RSI pane for each divergence, using green for bullish and red for bearish signals.
Includes RSI overbought (70) and oversold (30) bands with gradient fills to help visualize RSI zones.
Efficient use of arrays to track pivots and manage plotting history for smooth performance.
Usage:
Ideal for traders looking to leverage RSI divergences for better timing entries and exits in trending and range-bound markets. The script is fully customizable and works seamlessly across different timeframes
Release Notes
Added Feature: SMA 14 (Simple Moving Average) on RSIA 14-period Simple Moving Average (SMA) has been added to the RSI indicator.
This SMA smooths out short-term fluctuations in the RSI line, helping traders identify the underlying momentum trend more clearly.
When the RSI crosses above its SMA, it can signal increasing bullish momentum, while a cross below may suggest weakening or bearish momentum.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.