RSI Divergence and Convergence Finder-ShayanDST001//@version=5
indicator("RSI Divergence and Convergence Finder", overlay=true)
// Input parameters
rsiLength = input.int(14, title="RSI Length")
overbought = input.int(70, title="Overbought Level")
oversold = input.int(30, title="Oversold Level")
lookback = input.int(5, title="Lookback Period for Divergence/Convergence")
// Calculate RSI
rsiValue = ta.rsi(close, rsiLength)
// Find peaks and troughs for price and RSI
priceHigh = ta.highest(high, lookback)
priceLow = ta.lowest(low, lookback)
rsiHigh = ta.highest(rsiValue, lookback)
rsiLow = ta.lowest(rsiValue, lookback)
// Bullish Divergence: Price makes lower lows, RSI makes higher lows
bullishDivergence = (priceLow == low) and (rsiLow > rsiValue) and (rsiValue > oversold)
// Bearish Divergence: Price makes higher highs, RSI makes lower highs
bearishDivergence = (priceHigh == high) and (rsiHigh < rsiValue) and (rsiValue < overbought)
// Bullish Convergence: Price makes higher highs, RSI makes higher highs
bullishConvergence = (priceHigh == high) and (rsiHigh > rsiValue) and (rsiValue < overbought)
// Bearish Convergence: Price makes lower lows, RSI makes lower lows
bearishConvergence = (priceLow == low) and (rsiLow < rsiValue) and (rsiValue > oversold)
// Plot arrows on the chart
plotshape(series=bullishDivergence, title="Bullish Divergence", location=location.belowbar, color=color.green, style=shape.labelup, text="Bull Div")
plotshape(series=bearishDivergence, title="Bearish Divergence", location=location.abovebar, color=color.red, style=shape.labeldown, text="Bear Div")
plotshape(series=bullishConvergence, title="Bullish Convergence", location=location.belowbar, color=color.blue, style=shape.labelup, text="Bull Conv")
plotshape(series=bearishConvergence, title="Bearish Convergence", location=location.abovebar, color=color.orange, style=shape.labeldown, text="Bear Conv")
// Plot RSI for reference
hline(overbought, "Overbought", color=color.red)
hline(oversold, "Oversold", color=color.green)
plot(rsiValue, title="RSI", color=color.purple)
