This TradeStation indicator shows divergences between the RSI indicator and price by drawing trendlines on the price chart. These divergence signals are real-time and do not repaint.
You can choose whether to show regular divergences or reverse divergences. A regular divergence is when price is making higher highs (or lower lows), while the indicator is making lower highs (or higher lows). A reverse divergence (also called a hidden divergence) is when the indicator is making higher highs (or lower lows), while price is making lower highs (or higher lows).
This indicator can be used with RadarScreen and Scanners, and you can receive alerts when divergences occur.
RSI Divergence
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