RSI DIVERGENCE AFL
This AFL generates Buy/sell signal when it sees a divergence in the stock price and RSI Line.
Buy signal is generated for Bullish RSI Divergence.
Sell signal is generated for Bearish RSI Divergence.
Bullish Divergence and Bearish Divergence looks like this on Amibroker :
- Scan enabled
- RSI parameter can be changed
- Works on all time-frames.
Note: This strategy uses Zig indicator, hence the signals are usually delayed by 1 candle and backtesting would result in abnormal results. However, there is no alternative to this delay.
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