OPEN-SOURCE SCRIPT

Updated

RSI Screener and Divergence [5ema]

Displayed on the RSI chart according to a custom timeframe.
Displays the RSI tracking table of various timeframes.
Identify normal divergence, hidden divergence on RSI chat.
Show buy and sell signals (strong, weak) on the board.
Send notifications when RSI has a buy or sell signal.

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I reused some functions, made by (i believe that):

*©paaax: The table position function.*@everget: The RSI divergence function.*@QuantNomad: The function calculated value and array to show on table for input symbols.

I have commented in my code. Thanks so much!
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How it works:
1. Input :

input.int length of RSI => calculate RSI.
input.int upper/lower => checking RSI overbought/oversold.
input.int right bars / left bars => returns price of the pivot low & high point => checking divergence.
input.int range upper / lower bars => compare the low & high point => checking divergence.
input.timeframe => request.security another time frame.
input.string table position => display screener table.

2. Input bool:

plot RSI on chart.
Plot Regular Bullish divergence .
Regular Bearish divergence.
Hidden Bullish divergence .
Hidden Bearish divergence.

3. Basic calculated:

Make function for RSI , pivot low & high point of RSI and price.
Request.security that function for earch time frame.
Result RSI, Divergence.

4. Condition of signal:
Buy condition:

RSI oversold (1)
Bullish divergence (2).
=> Buy if (1) and (2), review buy (1) or (2).

Sell condition:

RSI overbought (3).
Bearish divergence (4).
=> Sell if (3) and (4), review sell (3) or (4).

5. Table screener:

Time frame.
RSI (green - oversold, red - overbought)
Divergence (⬈⬈ - regular bullish , ⬊⬊ regular bearish , ⬊ - hidden bullish , ⬈ - hidden bearish ).
Signal (🟢 - Buy, 🔴 - sell, green 〇 - review buy, red 〇 - review sell)

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This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.

Release Notes

Update the reused code:
Reused some functions from. I believe made by:

Thanks!

Release Notes

Update chart sample.
thanks!

Release Notes

Change the signal shape: 🔴 - > red ⦿
Reason: Pine updated not support.
Thanks

Release Notes

Update divergence shape.
Reason: Pine changed to support.

Release Notes

Update signal shape.
Final:
>>: Regular Bull Divergence.
<<: Regular Bear Divergence.
>: Hidden Bull Divergence.
<: Hidden Bear Divergence.
Green ⦿: Buy.
Red ⦿: Sell.
Green 〇: Review Buy.
Red 〇: Review Sell.
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Reason change: Pine update not to support special symbol.
Thanks.

Release Notes

Updated Alert conditions and message.

Release Notes

Update:

Modified Alert.
Select only strong signal or all.

Thanks!

Release Notes

Update position of signal.
thanks!

Release Notes

Some bros recommend me to return the signal shape to the original.
thanks.

Release Notes

Update: Add the Alert for Regular Divergence (review Buy, Sell).
thanks!

Release Notes

Update: changed title and short title
thanks!

Release Notes

Update:

Position some items.
Tooltip of some items.

Release Notes

Update:
Change content of Alert.

Release Notes

add RSI MA

Release Notes

add Overbought and Oversold fill color

Release Notes

Add strong signal condition

Release Notes

modify condition

Release Notes

Optimizing the code
Add theme color

vn5ema

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.

Want to use this script on a chart?

vn5ema

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