RSI Divergence Ultimate

9 ธ.ค. 2018

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

10 ก.ค. 2019

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Added option to reverse the colors for RSI Stochastic OB / OS

10 ก.ค. 2019

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Adjusted colors for RSI Stoch. OB / OS

11 ส.ค. 2019

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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

17 ต.ค. 2019

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Added MFI and background highlights when MFI is OB/OS

22 ต.ค. 2019

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Set MFI OB/OS Highlights as default

28 พ.ย. 2019

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Optional Offset for divergences to where earliest entry can take place

Adjusted Alerts to be easier to see when selecting

31 ธ.ค. 2019

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Mid Line Color According to RSI Above or Below Signal Line 1

5 พ.ค. 2020

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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

14 ก.ค. 2020

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Fixed Fault with signal line 2 - RSI
Added color OB / OS highlights of RSI 5 on standard RSI - Shows exhaustion
Changed some defaults

4 ต.ค. 2020

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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

17 ต.ค. 2020

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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