Popular tags: Support, Resistance, Trend, Range, Fibonacci, Wave, Divergence, Multi time frames(MTF), Swing, Volume, Overbought, Oversold
Customization and Conversion for: MetaTrader(MT4, MT5), Thinkorswim, NinjaTrader, MultiCharts, Tradingview, Prorealtime, SierraChart, etc.
License renew price will be 20% off for the 2nd year and after.

 


RSI DOUBLE DIVERGENCE indicator and scanner for Multicharts 1 Year license.

RSI DOUBLE DIVERGENCE indicator and scanner for Multicharts 1 Year license.
RSI DOUBLE DIVERGENCE indicator and scanner for Multicharts 1 Year license.
Availability: In Stock
Price: $149.00USD $70.00USD
Qty:     - OR -   Add to Wish List
Add to Compare
0 (0/5)  0 reviews  |  Write a review

This purchase is a 1-Year license. About License renew.

Divergence indicator is a very common and useful tool in technical analysis. It indicates possible reversal signals when there are discrepancies between an indicator and price movement. For more details of the general definition of divergence indicator please check this link:  https://goo.gl/GTJy17

 

For all of our divergence indicators, we define exaggerated divergence as regular divergence.


What is RSI Double Divergence?


The concept of Double divergence is straightforward. It is triggered when there are two continuous divergences in a row between current High and previous peak. Comparing to the normal divergence indicator, the double divergence indicator gives confirmations two at a time, which is more reassuring and revealing.

For example, the chart below shows a regular bearish RSI Double divergence and a hidden bullish RSI Double divergence.

 

 

 

























The following chart shows the regular bullish RSI Double divergence and  hidden bearish RSI Double divergence.

 

 


Features and inputs:


This indicator will draw the following at the end of a bar:

 

  • A letter R above a bar if there is a Regular bearish divergence occurred.

 

  • A letter H above a bar if there is a Hidden bearish divergence occurred.

 

  • A letter R below a bar if there is a Regular bullish divergence occurred.

 

  • A letter H below a bar if there is a Hidden bullish divergence occurred.

 

  • Two lines from signal bar's High to previous peaks if there is a Regular bearish divergence occurred.

 

  • Two lines from signal bar's Low to previous troughs if there is a Regular bullish divergence occurred.

 

  • Two lines from signal bar's RSI value to previous peaks or troughs RSI values.

 

 

 

  • Instant signal right after on current bar close, no repaint.

 

  • Alert when a signal appears.

 

  • Select different sound alert files.

 

  • Enable to show divergence trend lines.

 

  • Please use the following available colors for divergence line color: Black  Blue  Cyan  DarkBlue  DarkBrown  DarkCyan  DarkGray  DarkGreen   DarkMagenta  DarkRed  DarkYellow  Green  LightGray  Magenta  Red  White  Yellow

 

  • Please note: it only works on regular and Heikin-Ashi chart.

 

  • Control the RSI inputs at the same time.

 

 

 

This package also comes with a scanner, it will display when the last DOUBLE DIVERGENCE occurred.  

 

Please make sure you select  "RSI Double Divergence Scanner" in Scanner, not "RSI Double Divergence".

 

It has less input than the DOUBLE DIVERGENCE indicator.

 

  1. ShowHidden, if set to true it will scan both hidden and regular DOUBLE DIVERGENCE.
    If set to false it will only scan regular DOUBLE DIVERGENCE.

 

  1. Range, is the number of bars to check the existence of DOUBLE DIVERGENCE.

     
    If set it to 20 it will only check if there was a DOUBLE DIVERGENCE within the last 20 bars.

     
    If set it to 10 it will only check if there was a DOUBLE DIVERGENCE within the last 10 bars.

     

 

 



For example, as the selected row in the image below, there's an RSI bullish hidden double divergence detected at 1 bar ago of GBPJPY 5 minutes chart.


Please make sure you use the same inputs for both indicator and scanner.

 

 

 


The following videos show how it plots in real-time replay.

 

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Write a review

Your Name:


Your Review: Note: HTML is not translated!

Rating: Bad           Good

Enter the code in the box below:



Tags: RSI, divergence
Welcome to Patternsmart
Converting your indicator from one platform to another.

Custom Alert, Autotrader, Indicators, Scan, Screener, Strategy and Signals.


 

Copyright @ 2023 Patternsmart - All rights reserved


This website is for educational and informational purposes only and should not be considered a solicitation to buy or sell a futures contract or make any other type of investment decision. It's not recommended to use any single indicator as sole evaluation criteria. The companies and services listed on this website are not to be considered a recommendation and it is the reader's responsibility to evaluate any product, service, or company. patternsmart is not responsible for the accuracy or content of any product, service or company linked to on this website.

Futures trading contains substantial risk and is not for every investor.Please read the following risk disclosure before considering the trading of this product: Futures Risk Disclosure. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

Trading stocks, options, futures and forex involves speculation, and the risk of loss can be substantial.Investor must consider all relevant risk factors, including their own personal financial situation, before trading. Trading foreign exchange on margin carries a high level of risk, as well as its own unique risk factors. Forex investments are subject to counter-party risk, as there is no central clearing organization for these transactions. Please read the following risk disclosure before considering the trading of this product: Forex Risk Disclosure. Spreads, Straddles, and other multiple-leg option strategies can entail substantial transaction costs, including multiple commissions, which may impact any potential return. Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. Prior to trading options, you should carefully read Characteristics and Risks of Standardized Options.

patternsmart.com will not be held liable for the loss of money or any damage caused from relying on the information on this site. Any investment decision you make in your account is solely your responsibility.
TESTIMONIAL DISCLOSURE: TESTIMONIALS APPEARING ON OUR SITE MAY NOT BE REPRESENTATIVE OF THE EXPERIENCE OF OTHER CLIENTS OR CUSTOMERS AND IS NOT A GUARANTEE OF FUTURE PERFORMANCE OR SUCCESS.