RSI classical and hidden Divergences Indicator

v10.3
RSI classical and hidden Divergences Indicator

After a long work, I finally developed a simple, but useful RSI Divergences Indicator -Hey! another one?-

Yes, another one! (but I hope it is better than the default ProRealTime RSI Divergences Indicator).

This indicator finds both Direct (or Regular) and Hidden (or Inverse) RSI Divergences.

When a divergence is found, an Arrow is drawn to the chart and a text is added to the Arrow to mark the type of Divergence: “dd” = Direct Divergence; “hd” = Hidden Divergence

Indicator parameters:

  • RsiPeriod: number of bars to calculate RSI value, Default=10
  • RsiOverSold: Oversold Level, Default=30
  • RsiOverBought: OverBought Level, Default=70
  • MinBarRange: minimum distance from two consecutive RSI Highs or RSI Lows, Default=3

Comparing my indicator with ProRealTime RSI Divergence Indicator (using same parameters values), i found that entry points are exactly the same, except for new arrows added by my indicator in case of hidden divergence. That’s why ProRealTime indicator shows only regular divergences.

You can play with parameters to change sensivity.

Briefly, an RSI Divergence screener will be follow.

Merry Christmas!

Ciao!

 

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. Genotik • 12/22/2017 #

    Grazie !

    • Francesco • 12/22/2017 #

      Prego, spero che funzioni. Ho postato (due volte) anche lo screener, ma non l’ho visto ancora pubblicato.

  2. Alai-n • 12/22/2017 #

    Grazie francesco per questo lavoro !!!

  3. Alai-n • 12/22/2017 #

    Ciao Francesco, oltre alle istruzioni grafiche (DRAWARROWUP e DOWN / DRAWTEXT) che hai inserito nel codice avrei voluto inserire DRAWSEGMENT che funziona nel tempo, purch√© non venga rilevata un’altra divergenza !!! Hai qualche idea su come fare questo ???

  4. Francesco • 12/22/2017 #

    Ho provato ad inserire i segmenti per evidenziare le divergenze, ma al momento non sono riuscito ad individuare correttamente i punti, per cui i segmenti stessi mi venivano disegnati nei punti e con le inclinazioni sbagliate. Cmq, per disegnarli devi individuare i punti (x1, y1) e (x2, y2) che sono le coordinate dei due punti estremi del segmento. x1 dovrebbe essere la candela (il barindex) del minimo (o massimo) pi√Ļ vecchio e y1 il relativo valore di RSI. Allo stesso modo, x2 √® la candela del secondo minimo (o massimo) pi√Ļ recente e y2 il relativo valore di RSI.
    In effetti i rispettivi valori di RSI (cio√® y1 e y2) possono essere letti dalle variabili RSIMax1 e RSIMax2 (nel caso dei massimi); RSIMIn1 RSIMin2 nela caso dei minimi. x1 e x2 andrebbero letti dalla variabile “I” che rappresenta il barindex man mano che il ciclo for –> next viene scorso. Ci ho provato, ma le riche mi venivano disegnate tutte storte. Ci devo lavorare.

  5. LuisMi • 12/22/2017 #

    Hello merci pour l’indicateur
    j’ai un message d’erreur
    Veuillez définir la variable suivante : rsipériod
    Veuillez définir la variable suivante :rsioverbought
    Veuillez définir la variable suivante :rsioversold
    Veuillez définir la variable suivante : minbarrange
    quel sont ces données et ou dois je les mettre?

    merci par avance

  6. LuisMi • 12/22/2017 #

    J’ai trouv√© pour rajouter les variables…
    thanx for indicator

  7. Inertia • 12/22/2017 #

    Very nice Franceso. Like it.
    Q: to turn your indicator into a strategy, shall I just replace lines Drawarrows and draw text with “Buy 1 contract at market” ?
    Sorry still learning ūüôĀ cause I’ve tried of course and it doesn’t work…Do not laught ūüėČ

  8. Francesco • 12/22/2017 #

    @Inertia: yes, you have to replace Drawarrow and Drawtext with Buy or Sell orders.

  9. brendab180 • 12/22/2017 #

    I am new to prorealtime and when I add this is wants to put it in a lower frame how do I get it to show up on my chart frame. Thanks for your help

    • Francesco • 12/22/2017 #

      1- Download attached file rsi-divergences-2.itf

      2- Here is how to import indicator into your platform:
      https://www.prorealcode.com/import-export-prorealtime-code-platform/

      3- Here is how to add indicator to your chart
      https://www.prorealtime.com/en/help-manual/technical-analysis-indicators
      Here is how to show it on your char

  10. avatar
    fabioerliam • 12/22/2017 #

    Ciao Francesco!
    Grazie per l’indicatore che da tanto stavo cercando inutilmente di provare a creare! Ho un paio di domande da farti…
    L’ATR che hai inserito all’inizio serve a? ūüôā non credo abbia a che fare con lo strumento…penso che serva a disegnare qualcosa sul grafico…esatto?
    Cosa intendi con shiftext?
    Valore 3? Sono il numero di barre che considera per verificare se c’√® o no la divergenza?
    Pensavo che quell’istruzione fosse data dal minbarrange……
    Confusion….;(
    Mi dai una mano?:)
    Grazie mille di tutto!!!

    • Francesco • 12/22/2017 #

      ShiftText serve semplicemente a far s√¨ che il testo e la freccia non si sovrapoongano. Come avevi capito da solo, l’ATR serve solo a calcolare l’ordinata del punto sul quale piazzare la freccia sul grafico.

  11. avatar
    fabioerliam • 12/22/2017 #

    Grazie! Buona giornata

  12. avatar
    fabioerliam • 12/22/2017 #

    Ciao Francesco! Ti disturbo ancora per chiederti se conosci o se eventualmente pensi si possa generare un comando di buy o sell all’incrocio di 2 MM, ma dopo che si verifichi una divergenza sul tuo indicatore rsi…magari se ci fosse la possibilit√† anche di stabilire dopo quante barre dalla divergenza il segnale possa definirsi valido…per esempio mi scatta la divergenza e se entro max 5 barre si incrociano le mm ok…se no non prendere l’ordine….la vedo dura:)
    Grazie caro

  13. avatar
    fabioerliam • 12/22/2017 #

    P.s. ho provato a togliere le divergenze nascoste (hd) dall’indicatore, ma nonostante inserisca gli stessi parametri, non mi da gli stessi segnali che mi da invece l’indicatore di divergenze rsi quello standard della piattaforma…

  14. remembers • 12/22/2017 #

    Salve ho notato che questo indicatore non mi funziona importandolo correttamente. Idee?

  15. olpey • 12/22/2017 #

    Hello Francesco, Is there any parameters that you recommend for lower or higher TF please
    Thank You Grazie Mile

  16. Bard • 12/22/2017 #

    Hi,
    When I download this it says RSI Divergences 1 itf, not 2?
    There are no Return values and it’a a blank indicator?
    Any ideas anyone?

  17. robdav • 12/22/2017 #

    Hi Francesco

    I appreciate you uploaded this a long time ago but it is a useful indicator if you can’t spot the divergences manually. Interestingly I’ve compared it on IG Index spreadbet chart data and ProRealTime real market data and it highlights more interesting divergences on the real data which I guess is not a surprise. I’ve uploaded an image that compares a 5 min chart and you can see the differences. Thought you or someone else might be interested.

    Cheers

    Rob

  18. robdav • 12/22/2017 #

    https://drive.google.com/file/d/1-AQ4AS7LGV6hDJGUmKELNkHb_HZwuJ1_/view?usp=sharing

  19. robdav • 12/22/2017 #

    Try this link, it actually works.

    https://drive.google.com/file/d/1-EZBYlTi8qWOYT4_ZxgTlE0aUcnfKF6t/view?usp=sharing

  20. Adil • 12/22/2017 #

    How to install in META 4 ?

    • Nicolas • 12/22/2017 #

      Our website is about programming for ProRealTime trading platform and not about Metatrader4!
      https://trading.prorealtime.com/en/

  21. Denis • 12/22/2017 #

    Hello Francesco,
    I have the same problem as Bard, a blank indicator without any return value.
    Coul you help me please ?
    Many thanks

  22. shmilg • 12/22/2017 #

    Nice

  23. llsegard • 12/22/2017 #

    bonjour,

    merci pour cet indicateur tr√®s utile –
    Pouvez expliquer pourquoi l’indicateur appara√ģt dessous/dessus le chandelier lorsque la divergence est d√©tect√©e sur les ut intraday alors qu’il appara√ģt le lendemain en ut journali√®re.

    j’ai test√© les diff√©rents param√®tres et je n’arrive pas √† r√©soudre ce probl√®me.

    merci pour vos retours.

    Ludovic

  24. sisco771 • 164 days ago #

    Bonjour.
    je viens de telecharger cet indicateur .Malheureusement il ne fonctionne pas ou plus !?
    J’ai essayer deux fois sans succ√®s . il s’affiche correctement mais aucune courbe ne s’affiche !!
    Quelqu’un aurait-il rencontrer le m√™me probl√®me que moi?.
    merci d’avance pour vos retours.

  25. Geoffrey Toplis • 25 days ago #

    Hi Francesco,

    Great Indicator and thanks for sharing.

    How exactly does the MinRangeBar setting work? It sounds self explanatory but if i change from min 5 to min 3 some signals disappear – I would’ve thought that more would appear with the min bar range down. Is it based on the price or RSI?

    Regards,
    Geoff

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