This TOS indicator and scanner search for RSI divergences, which are signals of potential reversals. A bullish RSI divergence is when price is making new lows, but the RSI is less "oversold." A bearish divergence is when price is making new highs, but the RSI is less "overbought."
The indicator displays arrows on the chart when a divergence occurs, and gives you audio alerts. These signals are real-time and do not repaint. It also displays trendlines on the most recent divergence to make it easier to see. The RSI Histogram, which makes it easier to spot divergences, is also included.
This indicator can be used with stocks, futures, and forex on any time frame.
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