LonesomeTheBlue

Divergence for many indicator v3

Hello Everyone. Almost one year later, with Pine version 4, I developed new version of the Divergence for many Indicator.

It analyses divergences for 10 predefined indicators and then draws line on the graph. Red for negatif divergence (means prices may go down or trend reversal), Lime for positive divergences (means prices may go up or trend reversal)

Divergences version 2 has latency because it waits higher time frame completion. in this new version the script uses Pivot Points and on every bar it checks divergence between last Pivot point and current bar and if it finds any then immediately draws line and removes old one. so there is no latency with this version.

There are predefined 10 indicators in the script, you have option to choose which indicators the script would analyse for divergence. ( RSI , MACD , MACD Histogram, Stochastic , CCI , Momentum, OBV, Diosc, VWMACD and CMF )

In replay mode you can see how the script puts new divergence line and removes old one. you better see it for yourself by using replay mode.


Hope you Enjoy!


הערות שחרור: alert condition fixed
הערות שחרור: Added indicator names which has divergence! (optional and you must select it in the options menu)
הערות שחרור: "Minimum Number of Divergence" option added. by default it's value is 1.

if number of divergences is less than "Minimum Number of Divergence" then the script doesn't count it as divergence. for example if you set this to "2" then you will see then divergence line only if the number of divergence is equal or greater than "2".

I don't recommend to increase this number because sometimes divergence on only one indicator may show the trend reversal, so possible to miss trend reversal.
הערות שחרור: .
הערות שחרור: Money Flow Index (MFI) added as 11. indicator for divergence
הערות שחרור: Added "Change Width by Number of Divergence". If you enable this option then Line width changes by number of divergence. enabled by default.
הערות שחרור: Added "Check Cut-Through in indicators" option. disabled by default. if you enable this option and if there is cut-through in any indicator then it's not shown as valid divergence.
הערות שחרור: MAJOR UPDATE!

HIDDEN DIVERGENCES ADDED. not to make chart very crowded it shows Regular Divergence OR Hidden Divergence. if you select "Show Hidden Divergence" then it show ONLY Hidden once, if you unselect it then only Regular Ones are shown.

"Check Cut-Through in indicators" option was added. I recomment you to select/enable it. it checks there is cut-through in indicators or not, if no cut-through then it's shown as valid divergence.


ENJOY!
הערות שחרור: A screenshot of Hidden Divergence:

הערות שחרור: Alerts added for Hidden Divergences
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תגובות

How to use this strategy? Green number buy ? Red number sell ?
+81 השב
Amazing script, I have been doing some backtesting with my strategy and it's very powerful. Is there a possibility to set alerts?
+48 השב
LonesomeTheBlue tanya.favitta
@tanya.favitta, Thank you. there are two alerts when there is positive or negative divergence. do you mean any other alert?
+27 השב
geeklimit LonesomeTheBlue
@LonesomeTheBlue, I'd love to have a 'Trend End Signal' where if we go for of candles without another Divergence signaled, it'll put a "Trend End" signal on the chart that I can build an alert off of.

The chains of divergences are very helpful, both in listing the indicators for each link in the chain and showing the pivot points.

But I'd like a way to alert that a chain of divergence signals has ended - as in, "No Negative Divergences detected for xx candles" - and it would be great if I could adjust the sensitivity of this signal.
+4 השב
Will this work on all the time-frames ?
+25 השב
Divergence script may usefull with my Dynamic Support/Resistance script. Click following link and "Add to Favorite Scripts"
+24 השב
amitavaredmi LonesomeTheBlue
@LonesomeTheBlue, Dear Sir at the outset thanks a lot for such a great script !!

God May bless you always.

If possible pls enable the following option

1. Hidden and regular divergence can be used at a time
2. clour change for Divergence(R & H) line
+6 השב
NotFrank247 LonesomeTheBlue
@LonesomeTheBlue, I can attest to this. The divergence script paired with this is really accurate for forex on time frames of 15m and up. A divergence on a candle that occurs on a support/resistance line frequently results in a move to the next line. Pair both of these with a tweezer top or a tweezer bottom and it's deadly accurate. I also use your many indicator script so I can quickly flip through indicators to see the divergences for myself
השב
do i need premim account to use this i only see lines and numbers?
+20 השב
@ntsnow02, no, all users can use this. free and open-source script to all.
+9 השב
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