Candlestick Divergence
Utilizing Amibroker AFL and data, traders can create indicators that identify candlestick divergence patterns. These indicators highlight discrepancies between price action and technical indicators like MACD or RSI, signaling potential trend reversals. By coding specific conditions in AFL, traders can spot divergence in candlestick patterns, aiding in decision-making processes.
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_SECTION_BEGIN("RSI Divergence");
//
// + scanner
//
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/*---------------------------------------------------
RSI Divergence
Aron Pipa, March, 20 , 2006
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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; ix[j-1] && price[j]