OPEN-SOURCE SCRIPT
Trade 1 + Statergy
The Relative Strength Index (RSI) is a momentum oscillator used in technical analysis that measures the speed and change of price movements of a security within a range of 0 to 100. It is most commonly set to a 14-period timeframe and helps traders identify overbought or oversold conditions, suggesting potential reversal points in the market. Divergence occurs when the price trend and the RSI trend move in opposite directions. A bullish divergence signals potential upward movement when prices are making new lows while the RSI makes higher lows. Conversely, a bearish divergence suggests a possible downward trend when prices are making new highs but the RSI is making lower highs. These signals are crucial for traders looking to capture shifts in momentum and adjust their trading strategies accordingly.
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15 min decition
use full to
5 min
10 min
15 min decition
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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