PROTECTED SOURCE SCRIPT
RSI Divergence Smoothed with Signal Line and Power Zones
Updated
This Indicator plots Regular and Hidden Divergences lines for an RSI smoothed by an EMA and for its Signal Line
The RSI can be set to change colour with direction or can be set as single colour
Colour Changing RSI helps when trading Multiple Timeframes as you can look for confluence in the direction of RSI
The divergence script is thanks to RicardoSantos, I've just adjusted it to suite my indicator
Remember that divergences work best when traded with the trend or very late in a trend when going against the trend
I have also added a Colour Changing Signal Line & Hima Reddy's Power Zones so now you can also
Take full advantage of trading; signal line crosses, 50 crosses and Power Zone RSI support and resistance
The RSI can be set to change colour with direction or can be set as single colour
Colour Changing RSI helps when trading Multiple Timeframes as you can look for confluence in the direction of RSI
The divergence script is thanks to RicardoSantos, I've just adjusted it to suite my indicator
Remember that divergences work best when traded with the trend or very late in a trend when going against the trend
I have also added a Colour Changing Signal Line & Hima Reddy's Power Zones so now you can also
Take full advantage of trading; signal line crosses, 50 crosses and Power Zone RSI support and resistance
Release Notes
Added option to switch between SMA or EMA for Smoothing and Signal LineRelease Notes
* Changed Signal Line calculation to Linear Regression for more accurate signals
* Added Overbought Oversold Conditions for Coloured Highlights on Single Colour RSI
* Added Alerts
Release Notes
Added Signal Line Crossover DotsAdded Offset for divergence lines for less clutter
Release Notes
Cleaned up the menus Added option for a second signal line calculated by EMA of the RSI
Release Notes
Cleaned up the menusRelease Notes
Ladies and gentlemen - The Ultimate RSI Script This time I have added many more options for Signal Line 2
RSI Stochastic and Highlights for when it is OB / OS and K crosses D
RSI Standard and Multi Time Frame
Linear Regression
and much more to enjoy
Happy Trading
Release Notes
Added Bollinger Bands applied to the RSI as Signal Line 2 Added Better Alerts
- Please Note that after this I will be making the actual script visible to all on Tradingview and it will be Known as RSI Divergence Ultimate
Happy Trading Everyone
Release Notes
Newest Version MFI OB/OS Highlights defaultRelease Notes
Optional Offset for divergences to where earliest entry can take placeAdjusted Alerts to be easier to see when selecting
Release Notes
Mid Line Color According to RSI Above or Below Signal Line 1Release Notes
Set to optimal settings Added menu for adjustment of MFI OB /OS thresholds for Background Highlights
Tips for use;
Use Hima Ready levels for S/R of RSI
Look for RSI to cross Signal Line (Center Line Color) and Signal Line Direction for confirmation
Look for confluence with your entry indicator
Use appropriate Risk Management
Release Notes
Added Alerts for RSI crossing into Over Bought / Over Sold regions & RSI Crossing the 50 / Mid LineAdded Highlights for when RSI Crosses the 50 / Mid Line - Sorry Folks I had to remove the choppiness index to be able to do this
Release Notes
Added more Alerts Please note that alerts are not setups in themselves, they are only there so you can be aware to start looking for setups
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.