💸 Divergence Finder v1.0 by Cryptothythms

💸 Divergence Finder v1.0 by Cryptothythms

This indicator is meant as a quantitative look at divergences. Special thanks to RicardoSantos (legend!) for his divergence detection script which was used as a basis to construct this.

Lime Green = Regular Bullish Divergence
Dark Green = Hidden Bullish Divergence

Red = Regular Bearish Divergence
Maroon = Hidden Bearish Divergence

Remember... divergences do not have a high probability success overall. So to mitigate that this is an attempt to source many "opinions" on the state of divergence from many different classes of indicators.

Leading indicators - Lead price action, but have a higher probability of false signals
Real time indicators - Track price action, momentum, etc in a tick by tick state. Generally a 1-3 bars lag can be present.

Lagging indicators - Lag price action a little, but offer more in terms of confirmation of the divergence

Volume indicators - Look at volume flow in different fashions and give an added dimension to divergence finding. Remember volume divergences interact with price independently. For instance volume can be going down, but price going up. Be sure to understand the relationship of volume and price action when considering these readings.

👍 Enjoying this indicator or find it useful? Please give me a like and follow! I post crypto analysis, price action strategies and free indicators regularly.

💬 Questions? Comments? Want to get access to an entire suite of proven trading indicators? Come visit us on telegram and chat, or just soak up some knowledge. We make timely posts about the market, news, and strategy everyday. Our community isn't open only to subscribers - everyone is welcome to join.

For Trialers & Chat:
Remove from Favorite Scripts Add to Favorite Scripts
JEsus. There's so much going on here haha. Do you think you could add some kind of sentiment index that simply reads Strong Bearish Divergence to Strong Bullish Divergence at the top? It could be on a scale from -5 to +5?
Also, what does "hidden" mean? Is it a weaker form of divergence or some special pattern that humans typically don't observe
@dasanc, Good call, and yes it is planned. I will create some sort of divergence index for the v1.1 release. I just wanted to get this out into the field and get opinions on its utility before I spent more time going into further features. Let me know if you think it can prove useful! Am eager for any and all comments/criticism
dasanc theheirophant
@theheirophant, Have you use it in a strategy yet to see if using divergence is profitable at all?
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out