LX Rsi Divergence Bars — Indicator by lix

relativestrengthindex divergence bar candles

This script colours the bars when they are below or boyond a specified RSI threshold

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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Want to use this script on a chart?

study("LX Rsi Divergence Bars", shorttitle="LiX_RSIBARS", overlay=true)
//r = rising(ohlc4,6)
//rb = close + highestbars(close,6)
rsiperiod = input(title="RSI Period", type=integer, defval=21)
overb = input(title="Overbought", type=integer, defval=70)
oversold = input(title="Oversold", type=integer, defval=30)
rsbar = rsi(close,rsiperiod)
//clr = rsbar > 60 ? open < close ? 4 : na : na
//plot(clr,title="200 price",color=#3399FF,transp=90)
//bgcolor(close < open ? red : green, transp=70)
//barcolor(close < open ? silver : #3C78D8)
barcolor(rsbar >= overb ? open < close ? green : na : na) // moves in the trend of overbought
barcolor(rsbar >= overb ? open > close ? red : na : na) // diverging bar

barcolor(rsbar <= oversold ? open < close ? green : na : na) // diverging bar
barcolor(rsbar <= oversold ? open > close ? gray : na : na) // moves in the trend of oversold