My way to fight this situation is to stay productive.
Hope some of my scripts will help you out as most of us are locked-down at home, hence have more time for trading - and preparing ourselves when the sun will shine on us again
I - Concept
This is an upgrade of this script which captured only the regular divergences
This screener detects whether the regular divergences based on the TradingView Divergence built-in indicator (made by the gentleman @everget I believe)
With this screener, you can see in 1 view which of your favorite cryptos/stocks/forex pairs/etc. showing strong regular and hidden divergences
The gentlemen (and demoiselles) traders can play with the lookback/ranges inputs to adjust the divergences based on what they think is best of their trading/timeframe/instrument/life
On that script screenshot, I'm showing the BYBIT:BTCUSD part of the screener matching with the divergences on the chart
II - How did I set the screener
The visual signals are as follow:
- square: whenever a regular or hidden divergence is detected
Then the colors are:
- green when there is
- red when there is divergence
🔔🔔 I also added the alerts for capturing those / divergences
III - Does it repaint?
It should not :)
You have to declare 6 or 7 more lines like this one at the top
string sec00 = input(defval="TSLA", type=input.symbol) string sec01 = input(defval="FB", type=input.symbol) string sec02 = input(defval="AMZN", type=input.symbol) string sec03 = input(defval="ZOOM", type=input.symbol) string sec04 = input(defval="GOOGL", type=input.symbol) ... string sec09 = input(defval="DELL", type=input.symbol)
And then replicate (understand copy/paste) lines 107 to 136 adding your variables sec00 to sec09
It's really a good indicator. Thx a lot.
Can you explain what is :"Pivot Lookback Right" and "Pivot Lookback Left"? Changing this, it will change the divergence that are showed, but I'm not sure to really understand it.
There is some divergence that I would like to see, bit that are not showed on your indicator.
Thx a lot
This is why I don't like them very much
So to estimate retroactively why a divergence happens, we look at how the price behaved with X candles to the right and X candles to the left
From there we estimate the divergence - Generally, this triggers a 1 or sometimes 2 candles delay as it's a retroactive calcul
You can get it by creating a new indicator clicking on New from the pine Editor > select Divergence indicator