Lij_MC

RSI Divergence Ultimate

Here it is Everyone - What was once hidden is now revealed

This is the Ultimate RSI Divergence Indicator

Not only does it plot Regular and Hidden Divergence lines for an RSI smoothed by an EMA and for its Signal Line
The RSI can be set to change color with direction or can be set as single color with or with out OB / OS highlights
Color Changing RSI helps when trading Multiple Time Frames as you can look for confluence in the direction of RSI

Included options for the Signal Line include;
Various calculations EMA , SMA and Linear Regression which provides very accurate signal line crossover signals
Color Changing with direction
Second RSI with different Length
Multi Time Frame RSI
Bollinger Bands applied to the RSI
RSI Stochastic that has been compressed to fit into RSI OB / OS so that it doesnt compress the RSI when in these regions
There are also Background Highlights (thanks to Chris Moody) for when the RSI Stochastic moves into OB / OS and crosses its signal line

There are plenty of Alerts for signals with more complex alerts coming soon
I have also added Hima Reddy's Power Zones for support and resistance so now you can also
Take full advantage of trading; signal line crosses, 50 crosses and Power Zone RSI support and resistance and much more
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
Notes de version: Added option to reverse the colors for RSI Stochastic OB / OS
Notes de version: Adjusted colors for RSI Stoch. OB / OS
Notes de version: Changed Menu and how RSI Timeframes are selected

Added Choppiness Index Overlay and single bar Histogram colored according to significant levels

Added further highlights as RSI moves into Power Zones or consolidation zone
Notes de version: Added MFI and background highlights when MFI is OB/OS
Notes de version: Set MFI OB/OS Highlights as default
Notes de version: Optional Offset for divergences to where earliest entry can take place

Adjusted Alerts to be easier to see when selecting
Notes de version: Mid Line Color According to RSI Above or Below Signal Line 1
Notes de version: 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
Notes de version: Fixed Fault with signal line 2 - RSI
Added color OB / OS highlights of RSI 5 on standard RSI - Shows exhaustion
Changed some defaults
Notes de version: Added Alerts for RSI crossing into Over Bought / Over Sold regions & RSI Crossing the 50 / Mid Line
Added Highlights for when RSI Crosses the 50 / Mid Line - Sorry Folks I had to remove the choppiness index to be able to do this
Notes de version: 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
Script open-source

Dans le plus pur esprit de TradingView, l'auteur de ce texte l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur ! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par les règles internes. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

Vous voulez utiliser ce script sur un graphique ?

Commentaires

Hello, is it possible to put an alert when 6 or more indicators match to buy and sell and add the code so that a backtest can be done using the Tradingview simulator? Thank you!
+4 Répondre
For some reason when I open your script in tradingview, it doesn't show me anything on the chart with the candle sticks. Do you perhaps have a solution for this?
+2 Répondre
You sir are a god send ! you have created so many indicators which others charge for. Can't even explain how much that helps people who are just starting to learn to trade! Thank you for this and your other indicators!
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HI, what's the script "My Level" ? look great haha thanks
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Hi how do you recommend trading using this indicator? I'm a binary options trader; but also looking into getting into "normal" trading. Thanks!
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Lij_MC MadMoto29
@MadMoto29, Hi, there are several ways of using this, the YouTube links in the my other comments under this indicator provide some basic concepts
+3 Répondre
hey man, this is an amazing indicator! is it possible to change the the number or left bar lookup for RSI divergences?
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