The On Chart Reverse RSI+EMA Cross With Divergence is a visual representational spin of the original RSI+EMA to assist the end-user in their decision making for entry, exit and risk management, as well as freeing up space for the chart.
The On Chart Reverse RSI+EMA Cross With Divergence, which very basically is a smoothed reverse engineered calculation of the RSI's EMA Line gives the user a visual representation of the relationship between the current price and the RSI's EMA Line, which also includes RSI's divergences on the chart instead of having to reference the RSI itself. At a glance this can then be used to visually see on the chart potential momentum changes as well as the closing price level needed in order to cross the RSI either up or down.
Divergence colors and description:
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Green : Regular Bullish Divergence
White : Hidden Bullish Divergence
Red : Regular Bearish Divergence
Orange : Hidden Bearish Divergence
Optional settings include:
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1.) Show/Hide the Reverse RSI+EMA Cross label
2.) Change the Reverse RSI+EMA Cross label text size
3.) Change the Reverse RSI+EMA Cross label text color
4.) Change the Reverse RSI+EMA Cross label left margin
5.) Show/hide the Reverse RSI+EMA Cross label currency
6.) Change the Reverse RSI+EMA Cross label decimal value
7.) Show/hide the RSI Divergence lines
8.) Change the RSI Divergence line offset
9.) Show/hide the RSI Divergence arrows
10.) Change the RSI Divergence arrow offset
11.) Change the RSI Divergence lookback (No. of bars to lookback)
The On Chart Reverse RSI+EMA Cross With Divergence, which very basically is a smoothed reverse engineered calculation of the RSI's EMA Line gives the user a visual representation of the relationship between the current price and the RSI's EMA Line, which also includes RSI's divergences on the chart instead of having to reference the RSI itself. At a glance this can then be used to visually see on the chart potential momentum changes as well as the closing price level needed in order to cross the RSI either up or down.
Divergence colors and description:
------------------------------------------
Green : Regular Bullish Divergence
White : Hidden Bullish Divergence
Red : Regular Bearish Divergence
Orange : Hidden Bearish Divergence
Optional settings include:
-------------------------------
1.) Show/Hide the Reverse RSI+EMA Cross label
2.) Change the Reverse RSI+EMA Cross label text size
3.) Change the Reverse RSI+EMA Cross label text color
4.) Change the Reverse RSI+EMA Cross label left margin
5.) Show/hide the Reverse RSI+EMA Cross label currency
6.) Change the Reverse RSI+EMA Cross label decimal value
7.) Show/hide the RSI Divergence lines
8.) Change the RSI Divergence line offset
9.) Show/hide the RSI Divergence arrows
10.) Change the RSI Divergence arrow offset
11.) Change the RSI Divergence lookback (No. of bars to lookback)