RSI DIVERGENCE is a difference between a fast and a slow RSI. Default values are 5 for the fast one and 14 for the slow one. You can use this indicator in 2 different ways:
normal RSI: check double or triple top/bottom on a chart meanwhile RSI is descending/ascending (check the example on chart)
signal line: when RSI Divergence cross zero line from bottom to top you get a buy signal (the line become green), vice versa when the RSI Divergence cross zero line in the opposite way you get a sell signal (the line become red)
@Shizaru thanks for the nice code. Looks really great.
Is it possible that the script also draws the dotted line as in your example on two or three top / bottom ?
jregan11
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This looks amazing. I'm just wondering how to set the alert so that it triggers when the signal line changes colors (red to green/green to red). Does anyone have any experience setting this? Thanks!