TANGO Indicator: RSI Divergence and Convergence Signals

Summary

TANGO is described as an arrow indicator that uses divergence and convergence in the Relative Strength Index, with RSI calculated from closing prices. The note identifies the indicator’s author and says an initial MQL4 implementation was published in 2009. It does not explain the specific rules for detecting divergence or convergence, how arrows are generated, or how signals should be used in a trading strategy.

The material offers no chart, code, market sample, or performance evidence, so it provides only a brief description of the indicator’s concept and provenance. RSI divergence can be used by traders to look for potential differences between price movement and momentum, but this document does not establish signal reliability or address false positives, timing, or risk management.

Key ideas

• TANGO generates arrow signals using divergence and convergence in RSI.
• Its RSI calculation uses closing prices.
• The indicator was first implemented in MQL4 and published in 2009.
• The note does not specify signal rules or provide code, performance evidence, or trading guidance.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.