Overview: - Identifies divergence on the specified indicator. Support for additional indicators in development. - Divergence labels indicate strength of divergence, making it easy to spot stronger divergence. - Fully customizable (including inputs for indicator type and length, pivot lengths, divergence type, lookback range, price source, and more), allowing you to see exactly what you want based on your chart type and timeframe.
Inputs: See tooltips on Inputs page in settings.
Please report any issues/bugs, enhancement suggestions, or requests for additional indicator support.
I just came across this indicator, and didnt get a chance to use it yet, but looking back at the key points over the last few days, this looks like fire man. I will be testing it out next week and hope to have more good things to say. Small profits build up over time instead of trying to always hit bangers. I learned this the hard way early on. If you are using for options day trading, using vwap as points to sell off can help avoid losses and can hold runners and use your opposing alert for max gains.
reees
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@karsonrg, thanks! Yeah divergence is a great supplemental signal to use in confluence with other signals. I certainly wouldn't try to use it on its own, but it is fairly reliable
SpyMasterTrades
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Wow, nice! Divergences are an important signal for detecting reversals so having an indicator like this is super valuable. Thanks for taking the time to create and share this with the community.
reees
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@spy_master, thanks! Hoping to share more as I improve my PineScripts skills...
Pravins333
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Really , this is worth indicator , which would not go fail. Love it & your efforts. Thank you.
hi, great tool, it would be great if we have an option to show only strong divergence and not all
Premkumar2783
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@reees, is divergence calculated with price low/high or closing price? I guess low/high of price is taken into account for calculating divergence. Here my point is, stock's closing price should be taken into account if indicator's closing value is taken into account. Am i right? Can u please clarify on this...