This indicator collection calculates and plots previous daily high and low price levels on the chart to identify potential supply and demand zones. It includes real-time intraday high and low calculations, RSI divergence detection across a customizable period
Indicator · Pine Script v4 · On the chart
CB RSI (Divergence and OB/OS)
This indicator plots RSI(14) on the price chart along with regular and hidden bullish and bearish divergences.
GitHub stars5on the repository
Pine versionv4older, still runs
Lines of code333
Settings11inputs
LicenceNone stated
Last update2 years ago12 May 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
CB RSI (Divergence and OB/OS) detects divergences by comparing price highs and lows to RSI values using pivot points with configurable lookback bars. Signals appear as triangle shapes below or above the bar for bullish and bearish divergences respectively. The script also includes RSI overbought and oversold levels with base zone lines that users can adjust to filter signals based on sequenced and non-sequenced conditions. Divergence signals trigger when RSI crosses the overbought or oversold thresholds.
- RSI divergence detection
- Regular and hidden divergences
- RSI overbought oversold levels
- Pivot high low scanning
- Plotshapes for signals
Details
Published by
jerryinyang on GitHub
Type
Indicator, Pine Script v4
Draws
On the price chart
Category
Oscillators & momentum, Divergence, Support & resistance
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| RSI Overbought | float | 72 | i_rsiOb |
| RSI Oversold | float | 28 | i_rsiOs |
| Pivot Lookback Bars | int | 2 | lback |
| Additional Vertices Lookback | int | 1 | vertLback |
| RSI Timeframe | timeframe | | rsiRes |
| Overbought Base Line | float | 55 | obBaseZn |
| Oversold Base Line | float | 45 | osBaseZn |
| Threshold Sequenced Overbought/Oversold | int | 2 | minSeqObOs |
| Threshold Non-sequenced Overbought/Oversold | int | 4 | minNsqObOs |
| Sum Sequenced/Non-sequenced Overbought/Oversold | bool | true | useSumObOs |
| Threshold Summed Overbought/Oversold | int | 4 | minSumObOs |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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