PROTECTED SOURCE SCRIPT

RSI-like VWAP — Divergences

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This script introduces a unique RSI-style oscillator built from VWAP (Volume-Weighted Average Price) instead of price alone, offering a more volume-aware perspective of market momentum.

🔹 Key Features:

  1. Computes an RSI-like indicator using either a per-bar VWAP proxy (HLC3/OHLC4) or true intrabar VWAP (via lower timeframe aggregation).
  2. Customizable overbought, oversold, midline, and deadband levels for better signal filtering.
  3. Divergence detection (regular + hidden) between price and the VWAP-RSI oscillator, with clear lines and labels in the indicator pane.
  4. Auto-scaled pivot sensitivity across different chart timeframes to maintain consistency.
  5. Built-in alert conditions for bullish/bearish divergences, making it watchlist-friendly.

🔹 Use Cases:
This tool helps traders spot momentum shifts and early reversal signals by blending the logic of RSI with the weighting power of VWAP. It’s especially useful for detecting divergences where price action may be misleading without volume context.

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