This customized scanner will display all Positive/Negative (bearish/bullish) RSI Divergence based on your settings.
The algorithm of this SCAN is same as our RSI Divergence indicator.
This Advanced scanner is specially made for experienced traders.
For example, you can search RSI Divergence signals in a short range, such as 15 bars(applicable to any time period).
You can also
search in a long range, such as 60 or 100 bars. Furthermore, you can
specify the percentage of price change between 2 Highs and the
percentage of RSI value change which are used to find the Divergence.
It makes possible to scan on very complex conditions.
Example 1, scan
Negative (bearish) RSI Divergence if current High is the peak within 15
bars, and it's 5% greater than the peak from 25 bars ago. At the same
time, the current RSI value is 8% less than the RSI value of that peak
from 25 bars ago.
Example 2, scan
Positive (bullish) RSI Divergence if current Low is the trough within 5
bars, and it's 3% less than the trough from 15 bars ago. At the same
time, the current RSI value is 10% greater than the RSI value of that
trough from 15 bars ago.
Features:
- You can change all RSI (Relative Strength Index) parameters:
- length: The number of bars used to calculate the RSI.
- price: The price used to calculate the RSI.
- average type: The type of moving average to be used in calculations: simple, exponential, weighted, Wilder's, or Hull.
- Length 1&2: Define the range of bars which are used to calculate the recent High and previous High, as shown in picture.
- Percent: The difference between High1 and High2, as shown in picture.
- RSI_Percent: The difference between RSI1 and RSI2, as shown in picture.
- Scan in many time frames, 5mins, 15mins, 30mins, 1 day, 1 week, 1 month.
- Applicable for all securities(Stocks, Futures, Forex, Options,ETF, etc.).
Link: http://www.patternsmart.com/cart/index.php?route=product/product&product_id=270
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