RSI Divergences (Regular, Hidden, Exaggerated)

RSI Divergences (Regular, Hidden, Exaggerated)

This indicator detects and visually highlights all major types of RSI divergences on your chart: Regular, Hidden, and Exaggerated divergences, both bullish and bearish.

Key Features:

Calculates RSI based on a user-defined length and timeframe that automatically matches your chart's timeframe.

Identifies pivot highs and lows on both price and RSI using customizable pivot left/right bars.

Detects divergences when RSI and price movements disagree, signaling potential trend reversals or continuation.

Differentiates between three types of divergences:

Regular Divergence: Classic signal for possible trend reversal.

Hidden Divergence: Often indicates trend continuation.

Exaggerated Divergence: A less common form signaling momentum changes.

Draws clear colored lines and labels on the RSI pane for each divergence, using green for bullish and red for bearish signals.

Includes RSI overbought (70) and oversold (30) bands with gradient fills to help visualize RSI zones.

Efficient use of arrays to track pivots and manage plotting history for smooth performance.

Usage:

Ideal for traders looking to leverage RSI divergences for better timing entries and exits in trending and range-bound markets. The script is fully customizable and works seamlessly across different timeframes