Libertus

Relative Strength Index - Divergences - Libertus

Hello all,

To ease everyone's trading experience I made this script which colors RSI overbought and oversold conditions and as a bonus displays bullish or bearish divergences in last 50 candles (by default, you can change it).
Script is open source, part of code is from Trading View examples. If you have suggestions or you already made some improvements, please report in comment.

Happy trading and good luck!
Catatan Rilis: New version 2.0 of script. Most of logic is updated and upgraded.
Now divergences are shown for whole history.

Be warned that I increased lookback period to 90 bars by default. This is good for time frames up to 4H, even 4H in on the edge here.
Higher time frames then 4H probably need lower lookback period.

Please report any problems you encounter.
Catatan Rilis: TD bugged out when publishing, repeating update.
Catatan Rilis: Minor update: Added ability to set alerts per user request.
Catatan Rilis: Update:
  • ability to remove pivots
  • ability to display smaller/shorter labels
Catatan Rilis: What new:
  • adapted script to new pine language version (v4)
  • removed 8 n/a value that were cluttering indicator interface next to RSI value (only possible with v4 pine language)
  • added option to have colored indicator background instead of BULL/BEAR labels

If you don't want separate indicator for RSI divergences, you can use my RSI Divergences - Candle edition:

If you want OBV divergences script, check out:
Catatan Rilis: Small fix: Pivots didn't hide if you checked both "Hide pivot" and "Color background".
Hilangkan dari Skrip-Skrip Favorit Tambahkan ke Skrip-Skrip Favorit

Komentar

Bull :What does it represent
Pivot :What does it represent
Bear :What does it represent
Red thread :What does it represent
+14 Jawab
Nice work friend, thanks for sharing. I threw your divergences on an implementation of RSX here:
+2 Jawab
Libertus jaggedsoft
@jaggedsoft, thank you and good job with making that indicator.
+1 Jawab
Looks great, does it repaint at all?
+2 Jawab
emmanueldesk MDicko123
+1 Jawab
Hi, are the signals provided immediately or two candles late?
+2 Jawab
Libertus rashmi_kamaldeep_ico
@rashmi_kamaldeep_ico, Divergence signal is provided after two conditions are met: 1. last closed candle has divergences 2. current candle rsi/price is under (bear) or over (bull) last candle rsi/close price.
In real world that mean anything between few seconds after candle close or whole candle time, depending when price meets condition. Pivot is provided after 2 candles, but that isn't important for divergences.
+5 Jawab
Great job. Among all scripts i find this one easiest to use and get lots of information on a single indicator. Adding pivots and emas i find nice entries. And one question : repaint? lol jk thanks for sharing man.
+1 Jawab
Libertus setite
@setite, thank you. Glad you like it.
Jawab
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