This script will help you track multiple indicator divergences in an easy, clean, and very visible way. Currently supported indicators at the time of script publishing are the Relative strength index (RSI) and On balance volume (OBV). If you have suggestions on which other popular indicators to add, leave them in the comments or message me directly. You can track divergences manually, but it's time-consuming, you can easily miss them and if you want to track it on more than one indicator it will consume a lot of your screen space. The script is using my time-tested divergences code, loved by a lot of TradingView users. If you want to use RSI divergences code in your scripts, you can find it in my Relative Strength Index - Divergences - Libertus indicator. This script continues to improve on my popular RSI Divergences - Candle Edition - Libertus.
█ USAGE
In short, divergences occur between price and indicator. When the price makes a new high or low, but the indicator doesn't make a new high or low. Please check Investopedia for a more detailed explanation of RSI and OBV divergences.
BULL marks bullish divergence, which means the price made a new low, but the indicator value still hasn't made a new low. It can indicate a bullish trend change. BEAR marks bearish divergences, which means the price made a new high, but the indicator value still hasn't made a new high. It can indicate a bearish trend change. PIVOT is the highest or lowest price (candle) in the lookback period.
ALERTS are available for all PIVOTS and divergences, including candles with multiple divergences.
█ SETTINGS
HIDE PIVOT - ON by default, hides pivots. SHORTER LABELS - OFF by default, removes text from BEAR / BULL labels. HIDE LABELS AND COLOR BACKGROUND - OFF by default, hides labels completely and colors chart background. LOOKBACK PERIODS - number of candles script will check in history for the pivot.
Hopefully, this indicator will help you in your trading. Good luck!
If you ADD both Line and bar Divrgence of MACD and double check it by RSI, It will give us stronger signal. Not separately but both confirmation all together o show signal. test it. If you give me the code I will make it better and will resend you the code. It was not open source. So, I try to ask you. Thanks
@arminrahimian, salam. armin in indicator chetor signal behtari mide? dar morede BTC dar che timeframe behtar kar mikone?
arminrahimian
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@SUNRISE_ANALYSER, Hi, Vagaraei ba RSI and OBV ro Rooyeh Chart neshoon mideh. montaha vagaraei ok ast keh rooyeh PRZ (Main Res/Sup) rokh bedeh na har jaee. agar dorost estefadeh nasheh be sheddat zian deh ast.
SUNRISE_ANALYSER
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@arminrahimian, bale doroste, shoma az che raveshi baraye tashkhise PRZ estefade mikoni ke taeede monasebi ham bashe baraye in indicatore libertus?
arminrahimian
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@SUNRISE_ANALYSER, Pivot hayeh time frame balatar tarkibesh ba sotooheh fibonachi
JackBerlin
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Also very helpful - thanks for that too!
aminsmithfx
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nice
gdx0708
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I m pretty lucky guy to find your best indicator. thank you!
If you give me the code I will make it better and will resend you the code. It was not open source. So, I try to ask you. Thanks