Divergence on RSI with Bollinger Band

Partha Banerjee · Mon, 22 Jul 2019 13:43:10 +0000

Hello, below mentioned (in the code section) is the code for a RSI and its related Bollinger Band (BB). Help is needed for plotting divergence (defined by (1) ZSR (defined in the PRT code) touching LB (defined in the PRT code) and then price going down to make a lower low but ZSR staying above LBB, (2) ZSR touching UB and then price going up to make a higher high but ZSR staying below UBB). ZMYR = RSI[21](close) ZSR = RSI[2](ZMYR)-50 M=wilderAVERAGE[18](ZSR) SD=STD[18](ZSR) UB=M+1.2*SD LB=M-1.2*SD Return zsr as "MOMENTUM", ub as "OverBought", lb as "OverSold"

This topic has 16 replies, 4 voices, and was last updated 3 years ago by Nicolas.

Tagged: bands, Bollinger, divergences, drawarrowdown, drawarrowup, drawsegment

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07/12/2020 at 2:38 PM #139084

Dominicg01

HI Nicolas

I hope your well.

Quick questions. I have found this code to be very useful. Is there any way this could trigger an alert automatically where a divergence occurs ( a alarm alert )? Thanks Dom

Dominicg01
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07/13/2020 at 2:36 PM #139157

Nicolas

Simply use the alert tool and detect if “result” is different from 0 (+1 or -1 for bullish / bearish divergences).

Nicolas
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