MELONA - RSI Strategy (Pattern & Divergence Suite)

Precision signals. Zero guesswork.

A high-accuracy RSI-based trading strategy that integrates advanced Divergence detection with institutional Order Block logic. MELONA features a multi-engine analysis system that identifies Bullish and Bearish Divergences on the RSI, automatically plotting trendlines and date labels for confirmation. The script includes a specialized Single Candle Order Block (SCOB) detection engine that highlights institutional entry zones on the main chart. Combined with a Standard Deviation Regression background and automated Wedge pattern mapping, MELONA provides a complete visual framework for identifying market reversals and high-probability trend continuations. KEY FEATURES: Automated RSI Divergence: Instantly detects and labels bullish and bearish divergences with visual trendlines and historical date markers. Single Candle Order Blocks (SCOB): Automatically identifies institutional "footprints" on the chart and draws supply/demand boxes with real-time mitigation tracking. StdDev Regression Background: Features a dynamic regression-based background that changes color when price reaches extreme standard deviation levels (Overbought/Oversold). Wedge Pattern Engine: Built-in logic to detect and draw wedge patterns directly on the RSI, providing early warnings for volatility breakouts. Volatility-Filtered OBs: Includes an optional ATR-based filter to ensure you only trade Order Blocks created during periods of significant market participation. Market Structure Labels: Automatically identifies and labels Higher Highs (HH), Lower Highs (LH), Higher Lows (HL), and Lower Lows (LL) on the RSI. Comprehensive Alert System: Customizable alerts for RSI Divergences (Long/Short), Overbought/Oversold conditions, and SCOB formations.