vn5ema

RSI Screener and Divergence [5ema]

vn5ema Updated   
  • Displayed on the RSI chart according to a custom timeframe.
  • Displays the RSI tracking table of various timeframes.
  • Identify normal divergence, hidden divergence on RSI chat.
  • Show buy and sell signals (strong, weak) on the board.
  • Send notifications when RSI has a buy or sell signal.
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I reused some functions, made by (i believe that):
  • ©paaax: The table position function.
  • @everget: The RSI divergence function.
  • @QuantNomad: The function calculated value and array to show on table for input symbols.
I have commented in my code. Thanks so much!
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How it works:
1. Input :
  • input.int length of RSI => calculate RSI.
  • input.int upper/lower => checking RSI overbought/oversold.
  • input.int right bars / left bars => returns price of the pivot low & high point => checking divergence.
  • input.int range upper / lower bars => compare the low & high point => checking divergence.
  • input.timeframe => request.security another time frame.
  • input.string table position => display screener table.
2. Input bool:
  • plot RSI on chart.
  • Plot Regular Bullish divergence .
  • Regular Bearish divergence.
  • Hidden Bullish divergence .
  • Hidden Bearish divergence.
3. Basic calculated:
  • Make function for RSI , pivot low & high point of RSI and price.
  • Request.security that function for earch time frame.
  • Result RSI, Divergence.
4. Condition of signal:
Buy condition:
  • RSI oversold (1)
  • Bullish divergence (2).
  • => Buy if (1) and (2), review buy (1) or (2).
Sell condition:
  • RSI overbought (3).
  • Bearish divergence (4).
    => Sell if (3) and (4), review sell (3) or (4).
5. Table screener:
  • Time frame.
  • RSI (green - oversold, red - overbought)
  • Divergence (⬈⬈ - regular bullish , ⬊⬊ regular bearish , ⬊ - hidden bullish , ⬈ - hidden bearish ).
  • Signal (🟢 - Buy, 🔴 - sell, green 〇 - review buy, red 〇 - review sell)
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This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.
Release Notes:
Update the reused code:
Reused some functions from. I believe made by:
Thanks!
Release Notes:
Update chart sample.
thanks!
Release Notes:
Change the signal shape: 🔴 - > red ⦿
Reason: Pine updated not support.
Thanks
Release Notes:
Update divergence shape.
Reason: Pine changed to support.
Release Notes:
Update signal shape.
Final:
>>: Regular Bull Divergence.
<<: Regular Bear Divergence.
>: Hidden Bull Divergence.
<: Hidden Bear Divergence.
Green ⦿: Buy.
Red ⦿: Sell.
Green 〇: Review Buy.
Red 〇: Review Sell.
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Reason change: Pine update not to support special symbol.
Thanks.
Release Notes:
Updated Alert conditions and message.
Release Notes:
Update:
  • Modified Alert.
  • Select only strong signal or all.
Thanks!
Release Notes:
Update position of signal.
thanks!
Release Notes:
Some bros recommend me to return the signal shape to the original.
thanks.
Release Notes:
Update: Add the Alert for Regular Divergence (review Buy, Sell).
thanks!
Release Notes:
Update: changed title and short title
thanks!
Release Notes:
Update:
  • Position some items.
  • Tooltip of some items.
Release Notes:
Update:
Change content of Alert.
Release Notes:
add RSI MA
Release Notes:
add Overbought and Oversold fill color
Release Notes:
Add strong signal condition
Release Notes:
modify condition
Release Notes:
  • Optimizing the code
  • Add theme color
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

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