Forex Zone - Forex Forum

Divergence Indicator

Discussion started on TradingView - Pine Script Indicators

Administrator
  • Hero Member
  • Posts: 4700
  • Points: 34724
  • Likes Received: 4807
  • Reputation: +220/-14
Divergence Indicator

Summary:

  • This divergence indicator combines multiple indicators, including RSI (Relative Strength Index), Stochastic, MACD, and EMA to identify divergence signals. Bullish divergences occur when the price forms lower lows while the indicators form higher lows, indicating a potential trend reversal to the upside. Bearish divergences occur when the price forms higher highs while the indicators form lower highs, suggesting a possible trend reversal to the downside. The divergence indicator displays simple colored circles indicating where to buy or sell. This indicator is good as a filter when used in conjunction with other signals or indicators.


Example:

Divergence Indicator in TradingView - Pine Script Indicators_topic=4132

User Inputs:

  • RSI Length
  • Stochastic Settings (%K Length, %K Smoothing, %D Smoothing)
  • MACD Settings (Fast Length, Slow Length, Signal Length)
  • EMA Settings (Fast EMA, Slow EMA)


Availability:






Linkback: https://www.forex.zone/tradingview-pine-script-indicators/41/divergence-indicator/4132/
#1 - May 24, 2023, 08:13:42 PM
Attachments:
« Last Edit: May 24, 2023, 08:15:57 PM by Admin »

Administrator
  • Hero Member
  • Posts: 4700
  • Points: 34724
  • Likes Received: 4807
  • Reputation: +220/-14
The Divergence Indicator has had some recent improvements:

  • Alerts have been added. Alerts occur only when a candle closes with a signal. The alert occurs at the beginning of the following candle.
  • Indicator shapes and locations are now customizable.
  • In the Indicator Settings:
    1. The "Create Alerts" option has been moved to the top of the "Inputs" tab.
    2. Color, Shape, and Location options have all been moved to the "Style" tab.

#2 - June 06, 2023, 11:23:54 AM

Members:

0 Members and 1 Guest are viewing this topic.