Color shows whether the gap is positive or negative and whether it is growing or shrinking. Markers appear on the bar where the gap crosses zero, and the fast and slow RSI lines can be shown. This is a fast-versus-slow RSI comparison, not a price divergence detector. Lengths and sources are adjustable.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Fast RSI Source
source
close
rsi_fast_src
Fast RSI Length
int
5
rsi_fast_len
Slow RSI Source
source
close
rsi_slow_src
Slow RSI Length
int
14
rsi_slow_len
Show Fast RSI Line
bool
false
i_showFast
Show Slow RSI Line
bool
false
i_showSlow
Show Divergence Shift Signals
bool
true
i_showSignals
Bullish Divergence Color
color
color.rgb(0, 238, 71)
bullDivClr
Bearish Divergence Color
color
color.rgb(255, 8, 0)
bearDivClr
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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