JoGeilo RSI Divergence Indicator with EMA Filter

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An RSI indicator that can show divergences and filter them.

EMA filter:
The filter shows the bearish divergences above the EMA as a possible trend reversal and hidden bullish divergences as a trend continuation. The bullish divergences and hidden bearish divergences change to gray. Exactly the opposite happens when the price is below the EMA. This allows you to concentrate on the relevant divergences in the direction of the trend. The length of the EMA can be defined by yourself. The filter can also be reversed.

Explanation:

• Regular (normal) divergences: Can be interpreted as an indication of an impending trend change.
  
• Hidden divergences: Are generally seen as trend confirmation and indicate a continuation of the current trend.
  

I hope the indicator helps you.

6 saat önce

Sürüm Notları

If a hidden divergence is displayed in a trend, followed by an opposite regular divergence, the color of the subsequent regular divergence can now be displayed in a warning color. A hidden divergence indicates a trend continuation and the regular opposite divergence indicates a trend reversal. Therefore, caution is advised in the interpretation, which can be signaled by the color.

The color of the EMA filter (less relevant divergences in a trend are gray) can now also be defined by the user.

I have also reduced the standard value of the Lookack Range - Min to 5. This gives us more results.