OPEN-SOURCE SCRIPT

RSI Divergence[UgurTash] โ€“ Real-Time

1โ€ฏ393
๐Ÿ“ˆ RSI Divergence [UgurTash] โ€“ Real-Time, Adaptive, and Intelligent RSI Divergence Detection

๐Ÿš€ What Does This Indicator Do?

RSI Divergence [UgurTash] is a real-time divergence detection tool that helps traders identify bullish and bearish divergences between price and the Relative Strength Index (RSI). Unlike traditional RSI-based indicators, this script offers:

โœ… Real-time detection โ€“ No need to wait for bar closes or repainting.
โœ… Dynamic time-frame adaptation โ€“ The script automatically adjusts RSI settings based on the selected chart time frame.
โœ… Multi-layered divergence analysis โ€“ Supports short-term, medium-term, and long-term divergence detection with an optional all-term mode that dynamically selects the best configuration.

๐Ÿ›  How Does It Work?

Pivot-Based Divergence Detection:
The script analyzes pivot points on both price and RSI to determine valid divergences.
Bullish divergence occurs when price forms a lower low but RSI trends higher, indicating potential upward momentum.
Bearish divergence occurs when price forms a higher high but RSI trends lower, signaling possible weakness.
Adaptive RSI Calculation:
The RSI length is dynamically adjusted based on the chosen time frame:
Short-Term: RSI (7) for 1-5 min charts.
Medium-Term: RSI (14) for 15-60 min charts.
Long-Term: RSI (28) for 4H+ charts.
In All-Term Mode, the script automatically determines the best RSI length based on the active chart timeframe.
Smart Visualization & Alerts:
Bullish divergences are marked with green lines & labels.
Bearish divergences are highlighted in red.
Users can customize symbol size, divergence labels, and colors.
Instant alerts notify traders as soon as a divergence is detected.

๐ŸŽฏ How to Use This Indicator?

๐Ÿ“Œ For Trend Reversals: Look for bullish divergences at key support levels and bearish divergences at resistance zones.
๐Ÿ“Œ For Trend Continuation: Combine divergence signals with moving averages, volume analysis, or price action strategies to confirm trades.
๐Ÿ“Œ For Scalping & Swing Trading: Adjust the time-frame settings to match your trading style.

๐Ÿ† What Makes This Indicator Original?

๐Ÿ”น Unlike standard RSI divergence indicators, this script features real-time analysis with no repainting, allowing for instant trading decisions.
๐Ÿ”น The time-frame adaptive RSI makes it dynamic and suitable for any market condition.
๐Ÿ”น The multi-term divergence detection offers flexibility, giving traders a precise view of both short-term & long-term market structure.

โš  Note: No indicator guarantees 100% accuracy. Always use additional confirmations and sound risk management strategies.

If you find this tool useful, donโ€™t forget to support & share! ๐Ÿš€

Penafian

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