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 and on every bar it checks divergence between last 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. ( , , Histogram, , , 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!