Credits go to @NeoButane as basis is taken from his open-source code and I modified it - changes described below.
Usage: Positive -> bullish, negative -> bearish -60/60 is seen as the limit of the oscillator range, and a pullback should be expected from there -40/40 are in general Oversold/Overbought levels
Modifications:
added alerts
added Divergences formula
added additional types of smoothing
added signal display based on described above usage (extreme levels of oscillations and bounce back)
Does this put the Bullish/Bearish tags on the chart retroactively AFTER many candles have closed subsequent to where the Bullish/Bearish line and tag is located (the way it does for all the RSI Divergences indicators on TV)? If it gives the divergence drawing/tag in real-time (at candle close), this could be a fantastic heads up actually LEADING indicator.
vovach
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Do you have this indicator for the mt4 or mt5?
AgataBe
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Napisałam wiadomość
carloshpcaldeiraadv
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Hello, mice to meet you! I from Brazi and i using other indicators Do you have the code to download or indicaror? Is free? Thank You. Carlos