The chart rvi indicator forex that draws finds divergences and raises trading signals using breakouts. It includes a multi-symbol and multi-timeframe scanner indicator to find divergences across multiple instruments and timeframes from a single chart. Tricky to find and scarce in frequency, divergences are one of the most reliable and profitable trading scenarios. This indicator finds and scans for regular and hidden divergences automatically using your favourite oscillator.
To offer a broad market perspective, the indicator can be loaded many times in the same chart using different oscillators, without interference. Since divergences can expand quite a bit -especially in the forex market-, this indicator implements a twist: it waits for a donchian breakout to confirm the divergence before signaling the trade. The end result is an otherwise repainting indicator with a very reliable trading signal. Don’t despair if you think they are too many, because parameters are grouped into self-explanatory blocks. Indicator to load Choose the oscillator to load to the chart. Divergence types Enable or disable divergence types: hidden, regular or both. Breakout period Breakout period in bars for the trading signals.
Min divergence size in bars Minimum size in bars for a divergence to be displayed. Max divergence size in bars Maximum size in bars for a divergence to be displayed. Yes, the indicator must repaint to accomplish its function. Divergences can expand and therefore the indicator must redraw to follow the divergence as it expands. However, trading signals are based on breakouts and are mostly non-repainting. What kind of alerts does the indicator raise?