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RSI divergence indicator
Uptrend screener, EMA 50/200
Use a daily average on a 1h chart
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Write an RSI divergence indicator
01// Detects Regular and Hidden divergences 02// Regular Bullish : price lower low, RSI higher low 03// Regular Bearish : price higher high, RSI lower high 04// Hidden Bullish : price higher low, RSI lower low 05// Hidden Bearish : price lower high, RSI higher high 06 07RsiPeriod = 14 // RSI period 08LookBack = 5 // Min bars between pivots 09MaxLookBack = 60 // Max bars to search 10 11MyRSI = RSI[RsiPeriod](close) 12ATR = AverageTrueRange[10](close) 13 14PivotHigh = MyRSI[1] > MyRSI[2] AND MyRSI[1] > MyRSI[0] 15PivotLow = MyRSI[1] < MyRSI[2] AND MyRSI[1] < MyRSI[0] 16 17if PivotHigh then 18 curRSI = MyRSI[1] 19 curPrice = High[1] 20 for i = LookBack to MaxLookBack 21 if PivotHigh[i] then 22 prevRSI = MyRSI[i+1] 23 prevPrice = High[i+1] 24 25 // Regular Bearish: higher high, lower RSI 26 if curPrice > prevPrice AND curRSI < prevRSI then
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