PROTECTED SOURCE SCRIPT
COMPink RSI Scanner

PURPOSE OF THE INDICATOR
This Pine Script is a comprehensive RSI (Relative Strength Index) scanner and divergence detector designed for TradingView. Its main functions are:
1- Detects RSI divergences (regular and hidden, bullish and bearish).
2- Uses Composite RSI to normalize each stock's RSI against a benchmark index (e.g., BIST:XU100).
3- Scans up to 40 symbols at once from predefined or custom groups.
4- Displays stocks whose RSI or Composite RSI crosses above 50.
KEY FEATURES
1- RSI Divergence Detection
Based on pivot highs/lows in the RSI:
Regular Bullish Divergence: Price makes a lower low while RSI makes a higher low.
Hidden Bullish Divergence: Price makes a higher low while RSI makes a lower low.
Regular Bearish Divergence: Price makes a higher high while RSI makes a lower high.
Hidden Bearish Divergence: Price makes a lower high while RSI makes a higher high.
2- Composite RSI
Normalized RSI using a reference index (default: BIST:XU100).
Helps assess a stock’s relative strength compared to a broader benchmark.
3- Multi-Symbol Scanning
Supports scanning in groups of 40 symbols (selectable via grupSec).
Also supports Custom Symbol List (inputs s01 to s38).
For each symbol:
If RSI crosses above 50 → listed under RSI 50⬆️
If Composite RSI crosses above 50 → listed under K-RSI 50⬆️.
4- On-Chart Labeling
Matching symbols are shown as green and blue labels directly on the chart.
WHO IS IT FOR?
Swing traders relying on RSI divergence signals.
Analysts wanting relative strength analysis using Composite RSI.
Systematic traders needing multi-symbol scanning on TradingView.
Investors comparing BIST stocks against the broader market (e.g., XU100).
This Pine Script is a comprehensive RSI (Relative Strength Index) scanner and divergence detector designed for TradingView. Its main functions are:
1- Detects RSI divergences (regular and hidden, bullish and bearish).
2- Uses Composite RSI to normalize each stock's RSI against a benchmark index (e.g., BIST:XU100).
3- Scans up to 40 symbols at once from predefined or custom groups.
4- Displays stocks whose RSI or Composite RSI crosses above 50.
KEY FEATURES
1- RSI Divergence Detection
Based on pivot highs/lows in the RSI:
Regular Bullish Divergence: Price makes a lower low while RSI makes a higher low.
Hidden Bullish Divergence: Price makes a higher low while RSI makes a lower low.
Regular Bearish Divergence: Price makes a higher high while RSI makes a lower high.
Hidden Bearish Divergence: Price makes a lower high while RSI makes a higher high.
2- Composite RSI
Normalized RSI using a reference index (default: BIST:XU100).
Helps assess a stock’s relative strength compared to a broader benchmark.
3- Multi-Symbol Scanning
Supports scanning in groups of 40 symbols (selectable via grupSec).
Also supports Custom Symbol List (inputs s01 to s38).
For each symbol:
If RSI crosses above 50 → listed under RSI 50⬆️
If Composite RSI crosses above 50 → listed under K-RSI 50⬆️.
4- On-Chart Labeling
Matching symbols are shown as green and blue labels directly on the chart.
WHO IS IT FOR?
Swing traders relying on RSI divergence signals.
Analysts wanting relative strength analysis using Composite RSI.
Systematic traders needing multi-symbol scanning on TradingView.
Investors comparing BIST stocks against the broader market (e.g., XU100).
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarlo liberamente e senza alcuna limitazione – per saperne di più clicca qui.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarlo liberamente e senza alcuna limitazione – per saperne di più clicca qui.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.