I took a shot at applying my new combined cRSI and divergence indicator to my recent rising wedge chart for the S&P. It looks to have really good (not perfect) alignment so far. However, it is not very clear about the last week or two. It looks like it is showing a bear flag, but there is no crossover in the MACD yet. It looks bearish to me, but this market likes to be tricky like that.
Info on the chart.
1) Red dotted lines = cRSI crossed back from overbought and crossover in MACD
2) Red solid lines = Bear divergence and crossover in MACD
3) Green dotted lines = cRSI crossed back from oversold and crossover in MACD
4) Green solid lines = Bull divergence and crossover in MACD
5) Black transition = cRSI crossover but NO crossover in MACD
I created a single indicator that combines 1) Cyclic Smoothed RSI and 2) the Divergence indicator (bull, bear).
Please refer to
for info on how to use the cRSI indicator.
Info on the chart.
1) Red dotted lines = cRSI crossed back from overbought and crossover in MACD
2) Red solid lines = Bear divergence and crossover in MACD
3) Green dotted lines = cRSI crossed back from oversold and crossover in MACD
4) Green solid lines = Bull divergence and crossover in MACD
5) Black transition = cRSI crossover but NO crossover in MACD
I created a single indicator that combines 1) Cyclic Smoothed RSI and 2) the Divergence indicator (bull, bear).
Please refer to
코멘트:
I published the script for the "Cyclic Smoothed RSI with Divergence Indicator" if you want to try it. I think you can find it under public scripts.
코멘트:
Here it is on the 2H.
