Cynotronic Divergence tool

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This tool was developed to accurately capture divergences. Back-testing has shown it's relatively more accurate in detecting all types of divergences (both hidden and regular).

The tool is NOT to be used in isolation; it's best used in conjunction with moving averages (preferably the 20 SMA);

How to use
1. The indicator background indicates bullish (green background color) or bearish (red background color) sentiments;
2. Indicator reversal is most bullish when price action is above MA;
3. Indicator reversal + Green background + price above MA is extremely Bullish ;
4. Indicator reversal + Green background + price below MA is indicative of an incoming distribution phase;
5. Indicator reversal + Red background + price above MA is slightly bullish ;
6. Indicator reversal + Red background + price above MA is indicative of an incoming accumulation period.

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ملاحظات الأخبار

Renamed and upgraded script to version 4