OPEN-SOURCE SCRIPT
CMF Divergence Indicator
💰 CMF Divergence Indicator
Hello everyone! I am thrilled to introduce the CMF Divergence Indicator, a precision-engineered tool designed to bridge the gap between price action and volume-weighted money flow. Whether you are hunting for major trend reversals or looking for hidden continuation signals, this indicator brings institutional-grade volume analysis directly to your charts.
👀 Overview:
The CMF Divergence Indicator identifies discrepancies between price peaks/troughs and the CMF oscillator.
✨ Key Features:
🎯Pivot-Based Detection: Uses a precise pivot lookback logic (Left/Right) to identify structural highs and lows.
🔄Dual Divergence Support: Detects both Regular (reversal) and Hidden (continuation) divergences.
🛠️ How to Use:
🐂 Regular Bullish (Bull): Price makes a lower low, but CMF makes a higher low. This suggests selling pressure is exhausting despite the price drop.
🐻 Regular Bearish (Bear): Price makes a higher high, but CMF makes a lower high. This indicates that the uptrend is losing its volume support.
🕵️♂️ Hidden Divergences: Useful for identifying trend continuations where the oscillator "over-corrects" relative to price.
Integrate this indicator into your strategies to boost your analytical power. Don't forget to boost and support if you find it helpful! I look forward to your comments and suggestions for future improvements. Safe trading! 📊📈
Hello everyone! I am thrilled to introduce the CMF Divergence Indicator, a precision-engineered tool designed to bridge the gap between price action and volume-weighted money flow. Whether you are hunting for major trend reversals or looking for hidden continuation signals, this indicator brings institutional-grade volume analysis directly to your charts.
👀 Overview:
The CMF Divergence Indicator identifies discrepancies between price peaks/troughs and the CMF oscillator.
✨ Key Features:
🎯Pivot-Based Detection: Uses a precise pivot lookback logic (Left/Right) to identify structural highs and lows.
🔄Dual Divergence Support: Detects both Regular (reversal) and Hidden (continuation) divergences.
🛠️ How to Use:
🐂 Regular Bullish (Bull): Price makes a lower low, but CMF makes a higher low. This suggests selling pressure is exhausting despite the price drop.
🐻 Regular Bearish (Bear): Price makes a higher high, but CMF makes a lower high. This indicates that the uptrend is losing its volume support.
🕵️♂️ Hidden Divergences: Useful for identifying trend continuations where the oscillator "over-corrects" relative to price.
Integrate this indicator into your strategies to boost your analytical power. Don't forget to boost and support if you find it helpful! I look forward to your comments and suggestions for future improvements. Safe trading! 📊📈
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.