OPEN-SOURCE SCRIPT
RSI Screener Multi Timeframe [5ema]
Updated
This indicator is the simple version of my indicator: RSI Screener and Divergence .
Only show table with values, signals at 5 custom timeframes.
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I reused some functions, made by (i believe that):
©paaax: The table position function.
kingthies: The RSI divergence function.
QuantNomad: The function calculated value and array screener for 40+ instruments.
I have commented in my code. Thanks so much!
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How it works:
1. Input :
2. Input bool:
3. Basic calculated:
4. Condition of signal:
Buy condition:
=> Buy if (1) and (2), review buy (1) or (2).
Sell condition:
=> Sell if (3) and (4), review sell (3) or (4).
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Table screener:
- Regular Bearish divergence:
- Regular Bullish divergence:
- Regular Bullish divergence + RSI overSold
- Regular Bearish divergence + RSI overBought
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This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.
Only show table with values, signals at 5 custom timeframes.
-----
I reused some functions, made by (i believe that):
©paaax: The table position function.
kingthies: The RSI divergence function.
QuantNomad: The function calculated value and array screener for 40+ instruments.
I have commented in my code. Thanks so much!
-----
How it works:
1. Input :
- Length of RSI => calculate RSI.
- Upper/lower => checking RSI overbought/oversold.
- Right bars / left bars => returns price of the pivot low & high point => checking divergence.
- Range upper / lower bars => compare the low & high point => checking divergence.
- Timeframe => request.security another time frame.
- Table position => display screener table.
2. Input bool:
- Regular Bearish divergence.
- Hidden Bullish divergence .
- Hidden Bearish divergence.
3. Basic calculated:
- Make function for RSI , pivot low & high point of RSI and price.
- Request.security that function for earch time frame.
- Result RSI, Divergence.
4. Condition of signal:
Buy condition:
- RSI oversold (1)
- Bullish divergence (2).
=> Buy if (1) and (2), review buy (1) or (2).
Sell condition:
- RSI overbought (3).
- Bearish divergence (4).
=> Sell if (3) and (4), review sell (3) or (4).
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Table screener:
- Time frame.
- RSI (green - oversold, red - overbought)
- Divergence (>> - regular bullish , << regular bearish , > - hidden bullish , < - hidden bearish ).
- Signal (green ⦿ - Buy, red ⦿ - Sell, green 〇 - review buy, red 〇 - review sell).
- Regular Bearish divergence:
- Regular Bullish divergence:
- Regular Bullish divergence + RSI overSold
- Regular Bearish divergence + RSI overBought
-----
This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.
Release Notes
Add up RSI MA.Release Notes
sorry!i update its code again
Release Notes
- Optimizing the code
- Add theme color
Release Notes
wrong contentOpen-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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