IRSI Divergences

Signal provider based on RSI Divergences
from a higher timeframe.

First 3 buffers export a signal.

Timeframe for which divergences are detected is optional, see
'RSI divergences timeframe' parameter.

The indicator uses different algorithms for divergences detection:

'Fast' algorithm is the simplest solution that works the fastest.
'Strict' algorithm filters out more noise but works slower than the previous one.
'Full' algorithm uses recursive functions and provides with lots of divergences
but also is the slowest one.

With iRSI_Div.ex5 you can search for both SIMPLE and REVERSED types of divergences.
(formed not by higher peaks but higher lows, for ex.).
Works for both bullish and bearish markets(logic is reversed).

Signal provided by the indicator can be triggered in different ways,
its the behavior is controlled by input parameters:

Instant Signal Start(true/false)
Overbought level
Oversold level
Signal Death level
Signal Life(bars)

Authors:
Alexey Grebyonkin(Aleksei Grebenkin on MQL5.com)
Viktor Kokotin(orbborrison on MQL5.com)

The indicator is a part of TS_DayTrader system(check out MQL5 blog).

daha fazla...