Shows RSI divergences in real time (as soon as bar closes in divergence instead of waiting for an RSI pivot).
There are alerts included on these events so you are immediately made aware of divergence.
Adjustement:
It works by detecting a break of a previous high or low and then comparing the RSI value at the last break to the current break. Therefore, by decreasing the adjacent candles required for a pivot, you increase the number of divergence checks and therefore divergence readings. As with many indicators, with higher the values, you get less but more significant signals. (This can be visualized with the plot pivot lines option)
Hi buddy, what to change in the code for increase the number of divergence checks? Thanks
Ross-J-Burland
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This seems to fail to pick up on many divergences. Doesn't includes hidden divergence either, one of the most useful as it is a leading indicator for a trend continuation.
TVTrader2019
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Hey! I really like this. Have you considered doing something similar with the Williams Vix Fix? Same concept but rather than looking at "momentum", you're looking at volatility. I think it could be really powerful. Let me know if you decide to give it a stab!
Jabba01
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Wow! Very nicely coded & relevant signals, congrats & respect! thanks a lot for sharing that gem