OPEN-SOURCE SCRIPT
RSI Divergence Options Helper
Bullish divergence: wait for the green signal, then enter on a confirmation candle or break of the short-term high.
Bearish divergence: wait for the red signal, then enter on a rejection candle or break of the short-term low.
Stop placement: put the stop just beyond the swing low for long trades or swing high for shorts.
Profit target: start with the nearest structure level, then trail or scale to 2R.
Good settings for you
SPY/QQQ/IWM: 1H script, 15M confirmation.
Mag 7: 1H script, 15M confirmation, fewer trades.
0DTE: use the 15M only for timing after the 1H signal.
7DTE to 30DTE: the 1H signal is usually the cleaner anchor.
Important note
This script is built on confirmed pivots, so signals appear after the swing is validated, which helps reduce false signals but means you will always get a delay.
For options, that delay is usually a good tradeoff because you want higher-confidence setups, not the earliest possible tick.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.