Rsi Slope Divergence - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

People exploit disagreements in many ways. Most methods are effectively arbitrary (since "extreme values" are easily determined visually but not mathematically), and when using extreme value mode there must be some passing (closing) bars confirming the extreme values ​​in order to use them for divergence checking

This indicator:

It applies the robot using a linear regression channel on an indicator (RSI in this case) and price. If the channel slopes on RSI and price are different, the indicator draws a midline on the linear regression channel using the color you set in the parameters. If both channels have the same slope, the color used is that of the "regular" channel

As with any divergence-seeking indicator - once you see the color of the channel's midline change, you can take any of the actions you would normally do when a divergence occurs. The only difference is that no confirmation bars are required, as linear regression channels do not require already closed bars for calculation and slope determination

Attachment download

📎 rsi_slope_divergence.mq5 (17.13 KB)

Source: MQL5 #23339