Using the RSI to calculate bullish/bearish divergence conditions over multiple time frames (daily, weekly, monthly).
Divergence period used is 8 periods (Fibonacci number).
Bullish divergence is when the price is making lower lows, while the indicator (RSI) is making higher lows.
Indicates underlying strengths. Bears are exhausted. Warning of a possible trend direction change from a downtrend to an uptrend.
Divergence period used is 8 periods (Fibonacci number).
Bullish divergence is when the price is making lower lows, while the indicator (RSI) is making higher lows.
Indicates underlying strengths. Bears are exhausted. Warning of a possible trend direction change from a downtrend to an uptrend.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.