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Pilpilonim,
Don't want to get int the niddle of a discussion you are having with
Terry but he has done some greta coding there. Ijust thought i would
share an RSI divergence code that wa sposted by Aron Pipa .. all credit
goes to him. I just wanted to give you something else to consider in
divergences.
/*---------------------------------------------------
RSI Divergence
Aron Pipa, March, 20 , 2006
--------------------------------------------------------*/
GraphXSpace=7;
n=Param("% Reverse ",20,0,100,1);
Buy=Sell=0;
Var = Zig(RSI(), n);
t= Trough(RSI(), n, 1);
p= Peak(RSI(), n, 1);
x[0] =Var[0];
price[0] = C[0];
j=0;
// bearish divergence
for ( i=0; i<BarCount; i++)
{
if(Var[i] == p[i])
{
j++;
x[j] =Var[i];
price[j] =C[i];
if(x[j] <x[j-1] && price[j-1]< price[j])
Sell[i] =1;
}
}
// bullish divergence
for ( i=0; i<BarCount; i++)
{
if(Var[i] == t[i])
{
j++;
x[j] =Var[i];
price[j] =C[i];
if(x[j] >x[j-1] && price[j]<price[j-1])
Buy[i] =1;
}
}
Plot(Var, "", 39);
PlotShapes ( IIf(Sell, shapeCircle, shapeNone), colorRed, 0 , Var,0);
PlotShapes( IIf(Buy, shapeCircle, shapeNone), colorBrightGreen, 0,
Var,0);
Title ="RSI Divergence" ;
--- In amibroker@xxxxxxxxxxxxxxx, "Terry" <MagicTH@xxx> wrote:
>
> Pilpilonim,
>
>
>
> The earlier conversion to your VT divergence indicator I posted seems
to
> have problems with the direct translation. There were Ref(xxx,-1)
> statements that shouldn't have been there. Also, to get the indicator
to
> fall on the actual day of the peak or valley in the variable
> "DefineTrough", I had to use ref(xxxx, 1) which is forward looking by
1
> day. Try this version instead. It shows you the various peaks and
> troughs for RSI and Price so you can decide if it's really doing the
> job.
>
>
>
> I still wonder, after reading the code in detail, if this is doing
what
> is expected. It finds peaks and valleys in the RSI levels, then it
finds
> matching peaks and valleys in the High and Low prices. When it finds
an
> RSI Trough matched to a Price trough it declares this a Bullish
> Divergence. I'm under the impression a divergence is when two
indicators
> go in different directions.
>
>
>
> Last point, it doesn't correctly find all the peaks and troughs. See
> screen shot with circled peak. It found the Price peak, but not the
RSI
> peak. (Screen shot below.)
>
>
>
> "Relative Strength Index";
>
> //pilpilonim [pilpilonim@xxx] "...It sure looks good in VT..."
>
>
>
> SetChartOptions(1,chartShowDates);
>
>
>
> RSIper = Param("RSI Periods",5,2,50,1);
>
> RSIndex = RSI(RSIper);
>
>
>
> //This will detect a trough of RSI, then detect a second trough lower
> than the first Trough
>
>
>
> DefineTrough = Ref(RSIndex > Ref(RSIndex,-1) AND Ref(RSIndex,-1) <
> Ref(RSIndex,-2),1);
>
> PrevTrough = ValueWhen(DefineTrough,RSIndex,2); //Finds the RSI of the
> previous RSI trough
>
> ActualTrough = DefineTrough AND PrevTrough > RSIndex;
>
>
>
> PrevPrcTrough = ValueWhen(DefineTrough,L,2); //Finds the Low of the
> previous RSI trough
>
> ActualPrcTrough = DefineTrough AND PrevPrcTrough > L;
>
>
>
> BullishDivergence = ActualTrough AND ActualPrcTrough;
>
>
>
> //This will detect a peak of RSI, then detect a second peak higher
than
> the first peak}
>
>
>
> DefinePeak = Ref(RSIndex < Ref(RSIndex,-1) AND Ref(RSIndex,-1) >
> Ref(RSIndex,-2),1);
>
> PrevPeak = ValueWhen(DefinePeak,RSIndex,2);
>
> ActualPeak = DefinePeak AND PrevPeak > Ref(RSIndex,-1);
>
>
>
> PrevPrcPeak = ValueWhen(DefinePeak,H,2);
>
> ActualPrcPeak = DefinePeak AND PrevPrcPeak < H;
>
>
>
> BearishDivergence = ActualPeak AND ActualPrcPeak;
>
>
>
> Plot(C,Name(),IIf(C > O,colorGreen,colorRed),styleBar | styleThick);
>
> //Plot(H,"High",colorGrey50);
>
> //Plot(L,"Low",colorGrey50);
>
>
>
> Plot(RSIndex,"\nRSI(" + NumToStr(RSIper,1.0) +
> ")",colorDarkRed,styleOwnScale,0,100);
>
>
PlotShapes(IIf(BullishDivergence,shapeCircle,shapeNone),colorGreen,0,L,0
> );
>
>
PlotShapes(IIf(BearishDivergence,shapeCircle,shapeNone),colorRed,0,H,0);
>
>
>
> Plot(DefineTrough
> ,"",colorDarkRed,styleHistogram|styleNoLabel|styleOwnScale,0,6); //To
> highlight inside red
>
> Plot(DefineTrough
> ,"",colorRed,styleHistogram|styleNoLabel|styleOwnScale,0,2);
>
> Plot(PrevTrough ,"\nprev Trough
> RSI",colorRed,styleDashed|styleOwnScale);
>
> Plot(ActualTrough
> ,"",colorRed,styleThick|styleArea|styleNoLabel|styleOwnScale,0,6);
>
> Plot(ActualPrcTrough
>
,"",colorDarkRed,styleThick|styleArea|styleNoLabel|styleOwnScale,-1,5);
>
>
>
> Plot(-DefinePeak
> ,"",colorGreen,styleHistogram|styleNoLabel|styleOwnScale,-6,0); //To
> highlight inside brightgreen
>
> Plot(-DefinePeak
> ,"",colorBrightGreen,styleHistogram|styleNoLabel|styleOwnScale,-2,0);
>
> Plot(-PrevPeak ,"\nprev Peak
RSI",colorGreen,styleDashed|styleOwnScale);
>
> Plot(-ActualPeak
>
,"",colorBrightGreen,styleThick|styleArea|styleNoLabel|styleOwnScale,-6,
> 0);
>
> Plot(-ActualPrcPeak
> ,"",colorGreen,styleThick|styleArea|styleNoLabel|styleOwnScale,-5,1);
>
>
>
> _N(Title = EncodeColor(colorRed) + "Red bars = RSI trough | " +
> EncodeColor(colorDarkRed) + "Dark red bars = Price trough | " +
>
> EncodeColor(colorBrightGreen) + "Bright green bars = RSI peak | " +
> EncodeColor(colorGreen) + "Green bars = Price Peak\n {{VALUES}}");
>
>
>
>
>
> --
>
> Terry
>
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