One of the most powerful indicator based and divergence strategies i have ever seen was made by Constance Brown.
The Composite Index:
The best way to think of the Composite Index as it applies to the RSI is to think of the RSI as Windows 3.0 and the Composite Index as Windows 10. Constance Brown discovered that the RSI, while it does create and detect...
Minor modification to Everget's implementation of Constance Brown's Derivative Oscillator.
Toggles for DOSC Columns, Line, Circles
Signal line toggle
Color change
Misc. Comments + Source attribution
//@version=3
// Constance Brown Composite Index
// Re-implementation of CBCI based upon LazyBear's version + source text
// References:
//
// original author: @LazyBear
// "Technical Analysis for Trading Professionals" by Constance...
Parallel version of CBCI Cu + RSI w/ SMA and EMA. It's both indicators, but combined into one indicator space with an adjustable bidirectional offset for the spacing and location.
According to Constance Brown, both the CBCI and RSI are technically supposed to be used in tandem to easily spot divergences - this is an attempt to put that into practice, in one...
![BTCUSD: RSI + Composite Index [SHK]](https://s3.tradingview.com/s/sxVAwZED_mid.png "RSI + Composite Index [SHK]")
![BTCUSDT: bitpul Composite Index [mhmk]](https://s3.tradingview.com/k/KkwzZUiR_mid.png "bitpul Composite Index [mhmk]")
