StockFetcher Forums · General Discussion · RSI Divergence Indicator Assistance Needed<< >>Post Follow-up
nrj1947
6 posts
msg #51332
Ignore nrj1947
modified
4/25/2007 9:28:28 PM

Hi all,

I'd like to create an indicator that finds RSI (5) divergences for one month highs and lows. For instance, if you look at the XLB, it reached a one month high today but its RSI (5) is not as high as it was at its previous one month high which was achieved 7 days ago. I'm having difficulty creating an efficient algorithm and have searched the site for an RSI divergence indicator but couldn't find one.

In short, "Close is 4 week high and RSI (5) not at 4 week high". How do I write this properly?

Thank you in advance.

Nancy
New Jersey

cello13
88 posts
msg #51338
Ignore cello13
4/26/2007 2:20:58 AM

How about this?

Fetcher[close reached a 4 week high
rsi(5) below 4 week high
]




nrj1947
6 posts
msg #51340
Ignore nrj1947
4/26/2007 7:32:31 AM

Cello13,

Perfect! Thank you.

Nancy

cello13
88 posts
msg #51343
Ignore cello13
modified
4/26/2007 12:40:55 PM

You're welcome ! :-)

Happy trading.

TheRumpledOne
6,358 posts
msg #51357
Ignore TheRumpledOne
modified
4/27/2007 4:07:07 PM

Fetcher[
set{rsidiff, rsi(2) 4 week high - rsi(2)}

close reached a 4 week high
rsi(2) below 4 week high

add column rsidiff
add column rsi(2) 4 week high

volume above 1000000

sort column 5 descending
]



Very slick way of finding divergence!

I added the rsidiff column so you can see size of the divergence and sort.

HTH.





StockFetcher Forums · General Discussion · RSI Divergence Indicator Assistance Needed<< >>Post Follow-up

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