OPEN-SOURCE SCRIPT

Dynamic RSI Level + Divergence [Metrify]

95
This script provides a customized approach to tracking RSI divergence by replacing static overbought and oversold levels with dynamic volatility bands. Standard oscillators often fail during strong trends by staying pinned above 70 or below 30, producing premature signals. To handle this, the indicator calculates a moving baseline for the RSI and wraps it in standard deviation bands. This allows the overbought and oversold boundaries to adapt to the current market situation.

Does the divergence delayed?
No. The divergence label is printed exactly at the bar where the condition becomes valid. There is no forward confirmation or repaint shifting. This honest approach may produce losing signals in strong trends, but it preserves the integrity of real-time detection.

Divergence filters (optional, set this to 0 to avoid the filter):
  • Min RSI Diff (Steepness) -> requires sufficient vertical gap between RSI pivots to avoid weak, flat divergences.
  • Min Price Diff -> minimum price to move a meaningful distance (relative to ATR) between both pivots.

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