This indicator calculates momentum setups based on the Relative Strength Index (RSI) and plots in a separate pane. It offers multiple scanning modes such as Continuous Break, Continuous Retracement, Flip Break, Flip Retracement, and both regular and hidden div
Indicator · Pine Script v4 · Own pane
CB RSI Divergence
Calculates a 14-period Relative Strength Index and detects regular divergences between price and RSI pivot points.
GitHub stars5on the repository
Pine versionv4older, still runs
Lines of code100
Settings2inputs
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 scans across multiple previous pivot vertices stored in historical arrays. Bullish divergences require RSI below 40 at a pivot low, while bearish divergences require RSI above 60 at a pivot high. The script plots the RSI line, standard overbought and oversold levels, pivot markers, and divergence signal shapes in a separate indicator pane with a historical bar offset corresponding to the pivot lookback.
- Multi-vertex divergence detection
- RSI pivot high and low tracking
- Configurable lookback settings
- Regular bullish and bearish divergence signals
Details
Published by
jerryinyang on GitHub
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
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 |
|---|---|---|---|
| Lookback Bars | int | 2 | lback |
| Additional Vertices Lookback | int | 1 | vertLback |
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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