Took my other Log RSI script and plugged in Stochastic RSI to see how divergences play on an oscillator with two lines. Turns out divergences are good at predicting changes in the oscillator but that doesn't mean that the oscillator will always mimic price action.
alertcondition(regular_bearish_div, "Regular Bearish Stoch RSI", "Regular bearish div. on SRSI")
alertcondition(regular_bullish_div, "Regular Bullish Stoch RSI", "Regular bullish div. on SRSI")
alertcondition(hidden_bearish_div, "Hidden Bearish Stoch RSI", "Hidden bearish div. on SRSI")
alertcondition(hidden_bullish_div, "Hidden Bullish Stoch RSI", "Hidden bullish div. on SRSI")
Add that to the bottom. Just a FYI it will let you know two candles late
Redallica
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@NeoButane, Is there a way to make the alerts sent quicker than 2 days late ? let's say just one day ? What do we need to change in the code ?
Thanks
NeoButane
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@Redallica, it is impossible because the alerts requires two bars to confirm.
You can try setting alerts on a lower timeframe, such as using alerts on the 12H, which mean it will send it 1 day late; if on 4H, 8 hours late. But doing so will mean having different Stoch RSI values.
GeorgeFares
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@NeoButane, Bro please, what if I need to create orders (buy/sell) based on the alerts created as you mentioned, may you please tell me how to do this kind of coding!