RSI divergence – help coding

• 10/15/2020 at 11:37 AM #147462
  boonet

  Can you please help me code below screener algo ?

  Bullish reversal signal:

  • Find the last 2 RSI oversold signals
  • if (Oversold signal[1] > Oversold signal[0])
  • screen for Bullish reversal

  Bearish reversal signal:

  Opposite to Bullish signal

  

  boonet

  Participant

  Topics: 13

  Replies: 31

  Been thanked: 7 times
  10/15/2020 at 12:26 PM #147471
  boonet

  Ignore the aove, there is more to this –

  Can you please help me code below screener algo ?

  Bullish reversal signal:

  • Find the last 2 RSI oversold signals (RSI > 70)
  • if (RSIOversoldSignal[1] < RSIOversoldSignal[0]) and (priceAtOversoldSignal[1]  > priceAtOversoldSignal[0])
  • then screen for Bullish reversal

  Bearish reversal signal:

  Opposite to Bullish signal

  

  boonet

  Participant

  Topics: 13

  Replies: 31

  Been thanked: 7 times
  10/15/2020 at 12:34 PM #147474
  robertogozzi

  There you go:

  Ob = 70 Os = 100 - Ob MyRsi = Rsi[14](close) // Cross = MyRsi CROSSES UNDER Os IF Cross THEN Bear2 = Bear1 Bear1 = MyRsi ENDIF B = Bear2 > Bear1 // Cross = MyRsi CROSSES OVER Ob IF Cross THEN Bull2 = Bull1 Bull1 = MyRsi ENDIF S = Bull2 < Bull1 // SCREENER[B or S](MyRsi AS "Rsi")

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19

  Ob    = 70 Os    = 100 - Ob MyRsi = Rsi[14](close) // Cross = MyRsi CROSSES UNDER Os IF Cross THEN    Bear2 = Bear1    Bear1 = MyRsi ENDIF B     = Bear2 > Bear1 // Cross = MyRsi CROSSES OVER  Ob IF Cross THEN    Bull2 = Bull1    Bull1 = MyRsi ENDIF S     = Bull2 < Bull1 // SCREENER[B or S](MyRsi AS "Rsi")

  since you did not specify how far from each other those two signals should be, I used a crossover.

   

   

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 17403

  Been thanked: 4190 times
  10/15/2020 at 12:36 PM #147475
  robertogozzi

  In your pic you haven’t two oversold or overbought signals, just one.

   

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 17403

  Been thanked: 4190 times
  10/15/2020 at 12:58 PM #147478
  boonet

  Thanks @robertogozzi.

  I think crossover works fine too. Yeah the quality of the signal is better when it is oversold, but it works for near overbought signals too.

  I will try manually with a screener and then import it to proorder later. Thanks again 🙂

  

  boonet

  Participant

  Topics: 13

  Replies: 31

  Been thanked: 7 times
  10/15/2020 at 1:09 PM #147481
  boonet

  Hi @robertogozzi.

   

  Couple of things from the above code –

  • Not sure if you have seen my latest requirement criteria above. We need to check the price too when we have a RSI signal. Can you please add that too?
  • The expectation is that the second RSI signal is  caused by the current price, but not historic data. Because we will be taking entry based on the second RSI signal.

  Please see this video for better clairty on what I am trying to do

  Thanks

  

  boonet

  Participant

  Topics: 13

  Replies: 31

  Been thanked: 7 times
  10/15/2020 at 3:02 PM #147490
  robertogozzi

  I cannot wath a 44-minute video.

  You should recap conditions.

  This is my code modified to add diverging price. Signals are rarely returned:

  Ob = 70 Os = 100 - Ob MyRsi = Rsi[14](close) // Cross = MyRsi CROSSES UNDER Os IF Cross THEN Bear2 = Bear1 Bear1 = MyRsi Bull2 = 0 Bull1 = 0 Price2= Price1 Price1= close ENDIF B = (Bear2 > Bear1) AND Price2 < Price1 // Cross = MyRsi CROSSES OVER Ob IF Cross THEN Bull2 = Bull1 Bull1 = MyRsi Bear2 = 0 Bear1 = 0 Price2= Price1 Price1= close ENDIF S = (Bull2 < Bull1) AND Price2 > Price1 // SCREENER[B or S](MyRsi AS "Rsi")

  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

  Ob    = 70 Os    = 100 - Ob MyRsi = Rsi[14](close) // Cross = MyRsi CROSSES UNDER Os IF Cross THEN Bear2 = Bear1 Bear1 = MyRsi Bull2 = 0 Bull1 = 0 Price2= Price1 Price1= close ENDIF B     = (Bear2 > Bear1) AND Price2 < Price1 // Cross = MyRsi CROSSES OVER  Ob IF Cross THEN Bull2 = Bull1 Bull1 = MyRsi Bear2 = 0 Bear1 = 0 Price2= Price1 Price1= close ENDIF S     = (Bull2 < Bull1) AND Price2 > Price1 // SCREENER[B or S](MyRsi AS "Rsi")

   

   

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 17403

  Been thanked: 4190 times
• Author
  Posts