Caretaker's On-Chart RSI Divergence Identifier

20 sept. 2020

Caretakers On-Chart Rsi Div 5
This indicator is a divergence identification indicator, it uses a logic of defining a local high or low based upon multiple candle closes and then takes into account a user specified look back period to check for divergence in the RSI oscillator between two or more successive local highs/lows. RSI divergence is when price action is making two or more successive local highs or lows and the RSI oscillator makes a lower high or higher low respectively.

This indicator looks for both regular Bull & Bearish divergence as well as hidden Bull & Bearish divergence and is color coded. As default, green indicates regular bullish divergence , red indicates regular bearish divergence, orange indicates bearish hidden divergence and blue indicates hidden bullish divergence .

Dotted lines indicate that a signal is not fully confirmed but is in progress.

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21 sept. 2020

Notes de version

There is only one change to this version, it is now available on the Price Action itself rather than in the same pane as the RSI indicator. The indicator still operates exactly as it has before except the signals are printed in the chart.

1 oct. 2020

Notes de version

Fixed issue with anchors on charts below 1.0 values. Now the on chart version of the indicator will stick to price action on any chart. Can change settings via the anchor periods if needed

13 oct. 2020

Notes de version

There is no change to the normal functions of this indicator, this version adds reverse RSI features that may be ticked off in the settings. The clouds on chart show where the Bullish & Bearish zones as default.

5 nov. 2021

Notes de version

Added calculations for several data and user inputs.
Added Cutler's RSI as a user defined option. Users may now choose between Cutler's and Wilder's version of the RSI.

13 mars

Notes de version

Script Optimization