OPEN-SOURCE SCRIPT
RSI Divergence_v1
This indicator detects RSI Divergences (both regular and reverse) to identify potential reversals and trend continuations. It integrates ADX & DI for trend strength confirmation, MACD from the weekly timeframe for momentum validation, and ATR-based stop loss levels for risk management.
Have back tested with Nifty50 with Positive returns and Drawdown %. TIA.
Have back tested with Nifty50 with Positive returns and Drawdown %. TIA.
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