Here is my new year gift for the community, Digergence for Many Indicators v4. I tried to make it modular and readable as much as I can. Thanks to Pine Team for improving Pine Platform all the time!
How it works? - On each candle it checks divergences between current and any of last 16 Pivot Points for the indicators. - it search divergence on choisen indicators => RSI , MACD , MACD Histogram, Stochastic , CCI , Momentum, OBV, VWMACD, CMF and any External Indicator! - it checks following divergences for 16 pivot points that is in last 100 bars for each Indicator. --> Regular Positive Digergences --> Regular Negative Digergences --> Hidden Positive Digergences --> Hidden Negative Digergences - for positive divergences first it checks if closing price is higher than last closing price and indicator value is higher than perious value, then start searching divergence - for negative divergences first it checks if closing price is lower than last closing price and indicator value is lower than perious value, then start searching divergence
Some Options:
Pivot Period: you set Pivot Period as you wish. you can see Pivot Points using "Show Pivot Points" option Source for Pivot Points: you can use Close or High/Low as source Divergence Type: you can choose Divergence type to be shown => "Regular", "Hidden", "Regular/Hidden" Show Indicator Names: you have different options to show indicator names => "Full", "First Letter", "Don't Show" Show Divergence Number: option to see number of indicators which has Divergence Show Only Last Divergence: if you enable this option then it shows only last Positive and Negative Divergences you can include any External Indicator to see if there is divergence - enable "Check External Indicator" - and then choose External indicator name in the list, "External Indicator" - External indicator name is shown as Extrn - related external indicator must be added before enabling this option
Coloring, line width and line style options for different type of divergences.
You can see only the number of indicators which has divergence:
You can see only divergence lines without indicators names and numbers:
option to used different label/line/text colors:
You have option to see only last divergences:
You can change Pivot Period, in following example Pivot Period = 15:
You can use Close or High/Low as Source for Divergence
You can include external indicators and get divergences on it:
Wish you all a happy new year!
Enjoy!
Versionshinweise
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New Updates: -"Don't Wait for Confirmation" option added. if you enable this option it doesn't wait for candle or indicator confirmation and it gives the divergence signal immediately. some users like this more. - "Maximum Pivot Points to Check" option added, its the number of Pivot Highs/Lows to search for divergence. you can set it as you wish. - "Maximum Bars to Check" option added, its the number of bars/candles to search for divergence. you can set it as you wish. - Last divergence lines removed until meeting new Pivot High/Low. So now there is no unnecessary lines/labels.
Enjoy!
Versionshinweise
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"Minimum Number of Divergence" option added. for example if you set it "2" then the scripts shows the divergence if there is 2 or greater number of divergence.
Versionshinweise
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"Show Divergence Lines" added. if you disable it then the script won't show the Divergence Lines. Example:
Versionshinweise
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Hidden Divergence fixed.
Versionshinweise
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Fixed.
Versionshinweise
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bug fixed in "Minimum Number of Divergence" option. Thanks to @gold4boomersdoge4mooners for the bug report.
Versionshinweise
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Two New Alerts Added: - Positive Divergence Detected (Regular or Hidden Divergence) - Negative Divergence Detected (Regular or Hidden Divergence)
@Firdavsz, I'm having the same issue on high time frames very frustrating. If that is fixed this is a bomb indicator so thank you!
superstylebender
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@Firdavsz, If you combine it with a indicator that is a a bit slower ( I use the ehler indicator) it works great. You just need a strategy where you can get in later so it counters the repainting. If you you need more help just shoot me message. As a previous struggling trader I just want to help, because I know how hard it can be :)
efnja
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@superstylebender, hello, would you be able to share which ehler indicator you are talking about?
boltzz
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@superstylebender, How do you set it up to use the ehler indicator? I'm not sure what you mean?
ahmeduzair29
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@superstylebender, hey buddy can you tell how you using it,will be thankful to you
In the name of all TradingVie