Divergence on RSI with Bollinger Band

• 07/22/2019 at 2:43 PM #103117
  Partha Banerjee

  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).

  Divergence required to be printed

  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"

  1 2 3 4 5 6 7 8 9

  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"

  

  Partha Banerjee

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  07/31/2019 at 1:07 PM #103876
  Partha Banerjee

  Hello,

  Anyone up for the challenge?

  Regards,

  

  Partha Banerjee

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  07/31/2019 at 4:58 PM #103900
  Nicolas

  I think that your description is upside down.. Or is it me? Well, here is the code I made from what I understood from it:

  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 //trough trough=zsr>zsr[1] and zsr[1]<zsr[2] ////osc reset //if zsr>lb then //oscLL=1000 //endif //oscillator below if zsr[1]<lb then if trough and zsr[1]<oscll then oscll=zsr[1] oscbar=barindex[1] endif endif //osc above lbb if zsr>lb then //trough if trough then if low[1]<low[barindex-oscbar] and zsr[1]>oscLL and oscbar>0 then drawarrowup(barindex[1],zsr[1]) coloured(0,255,0) oscbar=0 oscll=1000 endif endif endif Return zsr as "MOMENTUM", ub as "OverBought", lb as "OverSold"

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  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   //trough trough=zsr>zsr[1] and zsr[1]<zsr[2]   ////osc reset //if zsr>lb then //oscLL=1000 //endif   //oscillator below if zsr[1]<lb then if trough and zsr[1]<oscll then oscll=zsr[1] oscbar=barindex[1] endif endif   //osc above lbb if zsr>lb then //trough if trough then if low[1]<low[barindex-oscbar] and zsr[1]>oscLL and oscbar>0 then drawarrowup(barindex[1],zsr[1]) coloured(0,255,0) oscbar=0 oscll=1000 endif endif endif   Return zsr as "MOMENTUM", ub as "OverBought", lb as "OverSold"

   

  

  Nicolas

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  08/01/2019 at 5:27 AM #103919
  Partha Banerjee

  Many thanks Nicolas. Your time and effort is really appreciated.

  The code is only printing UP arrow for (1) Bullish divergence, however it is not printing DOWN red arrow for (2) Bearish divergence as shown with dates for EURUSD daily chart.

  Also some of the UP Arrows are missing on valid setup as shown with dates for EURUSD daily chart.

  Appreciate the corrected code please.

  Thank you again.

  Best regards,

  

  Partha Banerjee

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  08/01/2019 at 7:45 AM #103931
  Nicolas

  You did not mention anything about bearish divergences, that’s why I did not code it..

  Here is a version with some fixes, please confirm bullish version is ok.

  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 //trough trough=zsr>zsr[1] and zsr[1]<zsr[2] //reset on new cross if zsr crosses under lb then oscbar=0 oscll=1000 endif //oscillator below if zsr[1]<lb then if trough and zsr[1]<=oscll then oscll=zsr[1] oscbar=barindex[1] endif endif //osc above lbb if zsr>lb then //trough if trough then if low[1]<low[barindex-oscbar] and zsr[1]>oscLL and oscbar>0 then drawarrowup(barindex[1],zsr[1]) coloured(0,255,0) drawsegment(oscbar,oscll,barindex[1],zsr[1]) coloured(0,255,0) oscbar=0 oscll=1000 endif endif endif Return zsr as "MOMENTUM", ub as "OverBought", lb as "OverSold"

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  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   //trough trough=zsr>zsr[1] and zsr[1]<zsr[2]   //reset on new cross if zsr crosses under lb then oscbar=0 oscll=1000 endif   //oscillator below if zsr[1]<lb then if trough and zsr[1]<=oscll then oscll=zsr[1] oscbar=barindex[1] endif endif   //osc above lbb if zsr>lb then //trough if trough then if low[1]<low[barindex-oscbar] and zsr[1]>oscLL and oscbar>0 then drawarrowup(barindex[1],zsr[1]) coloured(0,255,0) drawsegment(oscbar,oscll,barindex[1],zsr[1]) coloured(0,255,0) oscbar=0 oscll=1000 endif endif endif   Return zsr as "MOMENTUM", ub as "OverBought", lb as "OverSold"

   

  

  Nicolas

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  08/02/2019 at 7:26 AM #104009
  Partha Banerjee

  Hello Nicolas, many thanks for the fix. the bullish divergence is working fine now.

  I actually mentioned initially for the bearish divergence, although in brief, keeping in mind your coding knowledge level as very high, as well, as, ” (2) ZSR touching UB and then price going up to make a higher high but ZSR staying below UBB). ”

  Appreciate if you can incorporate the the code for bearish divergence please.

  Many thanks.

  Best regards,

  

  Partha Banerjee

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  08/02/2019 at 8:19 AM #104013
  Nicolas

  Here is the complete version that include the bullish and bearish divergences.

  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 //bullish divergences //trough trough=zsr>zsr[1] and zsr[1]<zsr[2] //reset on new cross if zsr crosses under lb then oscbar=0 oscll=1000 endif //oscillator below if zsr[1]<lb then if trough and zsr[1]<=oscll then oscll=zsr[1] oscbar=barindex[1] endif endif //osc above lbb if zsr>lb then //trough if trough then if low[1]<low[barindex-oscbar] and zsr[1]>oscLL and oscbar>0 then drawarrowup(barindex[1],zsr[1]) coloured(69,139,116) drawsegment(oscbar,oscll,barindex[1],zsr[1]) coloured(69,139,116) oscbar=0 oscll=1000 endif endif endif //bearish divergences //peak peak=zsr<zsr[1] and zsr[1]>zsr[2] //reset on new cross if zsr crosses over UB then oscbarr=0 oschh=0 endif //oscillator above if zsr[1]>UB then if peak and zsr[1]>=oschh then oschh=zsr[1] oscbarr=barindex[1] endif endif //osc below ub if zsr<ub then //peak if peak then if high[1]>high[barindex-oscbarr] and zsr[1]<oscHH and oscbarr>0 then drawarrowdown(barindex[1],zsr[1]) coloured(255,0,0) drawsegment(oscbarr,oschh,barindex[1],zsr[1]) coloured(255,0,0) oscbarr=0 oschh=0 endif endif endif Return zsr style(line,3) as "MOMENTUM", ub coloured(190,190,190) style(dottedline,2) as "OverBought" , lb coloured(190,190,190) style(dottedline,2) as "OverSold"

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  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   //bullish divergences //trough trough=zsr>zsr[1] and zsr[1]<zsr[2]   //reset on new cross if zsr crosses under lb then oscbar=0 oscll=1000 endif   //oscillator below if zsr[1]<lb then if trough and zsr[1]<=oscll then oscll=zsr[1] oscbar=barindex[1] endif endif   //osc above lbb if zsr>lb then //trough if trough then if low[1]<low[barindex-oscbar] and zsr[1]>oscLL and oscbar>0 then drawarrowup(barindex[1],zsr[1]) coloured(69,139,116) drawsegment(oscbar,oscll,barindex[1],zsr[1]) coloured(69,139,116) oscbar=0 oscll=1000 endif endif endif   //bearish divergences //peak peak=zsr<zsr[1] and zsr[1]>zsr[2]   //reset on new cross if zsr crosses over UB then oscbarr=0 oschh=0 endif   //oscillator above if zsr[1]>UB then if peak and zsr[1]>=oschh then oschh=zsr[1] oscbarr=barindex[1] endif endif   //osc below ub if zsr<ub then //peak if peak then if high[1]>high[barindex-oscbarr] and zsr[1]<oscHH and oscbarr>0 then drawarrowdown(barindex[1],zsr[1]) coloured(255,0,0) drawsegment(oscbarr,oschh,barindex[1],zsr[1]) coloured(255,0,0) oscbarr=0 oschh=0 endif endif endif   Return zsr style(line,3) as "MOMENTUM", ub coloured(190,190,190) style(dottedline,2) as "OverBought" , lb coloured(190,190,190) style(dottedline,2) as "OverSold"

   

  

  Nicolas

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  08/02/2019 at 10:32 AM #104023
  Partha Banerjee

  Many many thanks dear Nicolas.

  Much appreciate your fast and reliable response, as always.

  Its all fine now.

  Best regards,

  

  Partha Banerjee

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  08/02/2019 at 1:25 PM #104044
  Partha Banerjee

  Hello Nicolas,

  I can not create Alert on this divergence. Is it possible to plot the divergence as value return so that Alert can be set please.

  Your help is much appreciated, Nicolas.

  Best regards,

  

  Partha Banerjee

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  08/02/2019 at 2:02 PM #104048
  Vonasi

  Try this. It returns a 1 for a buy signal and a -1 for a sell signal.

  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 result = 0 //bullish divergences //trough trough=zsr>zsr[1] and zsr[1]<zsr[2] //reset on new cross if zsr crosses under lb then oscbar=0 oscll=1000 endif //oscillator below if zsr[1]<lb then if trough and zsr[1]<=oscll then oscll=zsr[1] oscbar=barindex[1] endif endif //osc above lbb if zsr>lb then //trough if trough then if low[1]<low[barindex-oscbar] and zsr[1]>oscLL and oscbar>0 then result = 1 oscbar=0 oscll=1000 endif endif endif //bearish divergences //peak peak=zsr<zsr[1] and zsr[1]>zsr[2] //reset on new cross if zsr crosses over UB then oscbarr=0 oschh=0 endif //oscillator above if zsr[1]>UB then if peak and zsr[1]>=oschh then oschh=zsr[1] oscbarr=barindex[1] endif endif //osc below ub if zsr<ub then //peak if peak then if high[1]>high[barindex-oscbarr] and zsr[1]<oscHH and oscbarr>0 then result = -1 oscbarr=0 oschh=0 endif endif endif Return result

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71

  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   result = 0   //bullish divergences //trough trough=zsr>zsr[1] and zsr[1]<zsr[2]   //reset on new cross if zsr crosses under lb then oscbar=0 oscll=1000 endif   //oscillator below if zsr[1]<lb then if trough and zsr[1]<=oscll then oscll=zsr[1] oscbar=barindex[1] endif endif   //osc above lbb if zsr>lb then //trough if trough then if low[1]<low[barindex-oscbar] and zsr[1]>oscLL and oscbar>0 then result = 1 oscbar=0 oscll=1000 endif endif endif   //bearish divergences //peak peak=zsr<zsr[1] and zsr[1]>zsr[2]   //reset on new cross if zsr crosses over UB then oscbarr=0 oschh=0 endif   //oscillator above if zsr[1]>UB then if peak and zsr[1]>=oschh then oschh=zsr[1] oscbarr=barindex[1] endif endif   //osc below ub if zsr<ub then //peak if peak then if high[1]>high[barindex-oscbarr] and zsr[1]<oscHH and oscbarr>0 then result = -1 oscbarr=0 oschh=0 endif endif endif   Return result

   

  

  Vonasi

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  08/02/2019 at 2:37 PM #104050
  Partha Banerjee

  Hello Vonashi,

  Thank you for your prompt response, however your code is not after Nicolas’s last post which was recent. We have to build an alert on that.

  Your code is not running and giving the enclosed error.

  Regards,

  

  Partha Banerjee

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  08/02/2019 at 2:48 PM #104053
  Vonasi

  You must have done a bad copy and paste because it works just fine for me. Use the button in the top right of the PRT code window to highlight it all and then hit CTRL+C.

  

  Vonasi

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  08/02/2019 at 2:48 PM #104054
  Nicolas

  if they are unused, then delete all their references in code, simple as 1.2.3. 😆

  

  Nicolas

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  08/03/2019 at 7:02 AM #104072
  Partha Banerjee

  Many thanks Vonasi.

  Much appreciate your time, effort and helping attitude.

  Thank you again for your prompt response.

  Regards,

  

  Partha Banerjee

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  08/03/2019 at 7:02 AM #104073
  Partha Banerjee

  Yes Nicolas. You are correct.

  

  Partha Banerjee

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