RSI Divergence Scanner

Understanding RSI Divergence Scanner

• The RSI Divergence Scanner is a dashboard tool designed to identify divergences between the price movements in financial markets and the Relative Strength Index (RSI).
• This scanner operates across multiple timeframes and symbols, allowing traders to gain insights without spending excessive time on chart analysis.
• It integrates support and resistance zones to enhance the accuracy of divergence identification, focusing on potential trend reversal points.
• Real-time scanning ensures that traders receive alerts whenever significant divergences occur, helping them seize trading opportunities quickly. 🚀

Key Features

• The scanner detects both regular (classic) and hidden divergences, which are crucial indicators of potential market reversals.
• Users can filter divergences based on overbought and oversold levels, making it easier to manage risk and optimize entries.
• The dashboard provides statistics, such as the number of candles since a divergence occurred and the number of trend waves leading to it.
• Direct interaction with chart cells allows users to view associated support and resistance zones immediately.
• Trader-friendly options allow the segmentation of symbols into multiple columns or dashboards for better organization.

Confirmation Options

• The scanner offers various confirmation types for enhancing the reliability of signals, including:
• Candlestick patterns recognition
• RSI crossing specific levels
• Price retracements to previous highs or lows
• Color changes in Heiken Ashi indicators
• Immediate alerts for trading opportunities
• These features allow traders to tailor their scanning preferences, ensuring that they are more aligned with their trading strategies.

Alert Types

• The scanner supports multiple alert types to keep traders informed:
• Pop-up alerts to notify users on their trading platform
• Push notifications for immediate updates on mobile devices
• Email notifications for a comprehensive trading experience
• This array of alerts ensures that traders never miss critical market signals! 📈

Utilization Across Markets

• The RSI Divergence Scanner is versatile and can be used in various markets, including Forex, stocks, commodities, and cryptocurrencies.
• Traders simply input the desired symbols or allow the scanner to read the symbols from their market watch list.
• This flexibility makes it applicable to various trading strategies and market conditions, accommodating both day traders and longer-term position traders.

Performance Insights

• The RSI Divergence Scanner is designed to update every minute, providing a near real-time reflection of market conditions.
• It is equipped to handle 50 symbols across all relevant timeframes on an average PC, demonstrating robust performance.
• For enhanced data analysis, users should ensure their charts contain at least 300 historical candles for more accurate divergence spotting.