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!


Feb 06
Release Notes: alert condition fixed
Feb 07
Release Notes: Added indicator names which has divergence! (optional and you must select it in the options menu)
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Comments

Amazing script, I have been doing some backtesting with my strategy and it's very powerful. Is there a possibility to set alerts?
+3 Reply
LonesomeTheBlue tanya.favitta
@tanya.favitta, Thank you. there are two alerts when there is positive or negative divergence. do you mean any other alert?
Reply
what a great script! thanks
+2 Reply
@NevilK, Thank you. I hope it would be usefull for us all
Reply
can you please add Time frame also ? It will help to see full divergence in single shot on all the TF... A great indicator...
+2 Reply
@sam_m400, Adding time frame may be another project. Because it needs to get indicators position from all time frames. also to get rid of repainting issue it will have latency, because of this latency it will be late to get divergence signals.
Reply
sam_m400 LonesomeTheBlue
@LonesomeTheBlue, Ok no issue. latency is not issue as for positional trading multi time frame really help.. I use other MTF indicator it works very well as give perfect picture of future position though for intraday trend may be opposite... Here i have seen latency was not issue once need to do positional... Your indicator really helps ,and can improve by adding this feature which you can release in the future.... Great work and awesome indicator
Reply
@sam_m400, Thank you. I will think about it and when I have time I will try it & see the result. don't keep your breath for it :)
Reply
Quite interesting.. But i wonder, on the box written above, can it be possible to write the name of the div, instead of a number ?
thanks a lot.
+2 Reply
@Docop1, it's possible but it takes big area on the chart. well, I will add it as an option.
Reply
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