LonesomeTheBlue

Divergences for many indicators v2.0

A gift from me to all.

This script is developed to find Divergences for many indicators. it analyses divergences and then draws line on the graph. red for negatif, lime for positive divergences.

Currently script checks divergence for RSI , MACD , MACD Histogram, Stochastic , CCI , Momentum, OBV, Diosc, VWMACD and CMF indicators. You can use some or all of these indicators to check divergences as you wish by choosing them on the menu. Also you can add/remove many other indicators to the script to check if there is divergence.

The script first calculates tops/bottoms by using higher time frame zig zag and then finds divergences.

Higher Time Frames are
if currend period 1 min => HTF = 5 mins
if currend period 3 mins => HTF = 15 mins
if currend period 5 mins => HTF = 15 mins
if currend period 15 mins => HTF = 1 hour
if currend period 30 mins => HTF = 1 hour
if currend period 45 mins => HTF = 1 hour
if currend period 1 hour => HTF = 4 hours
if currend period 2 hours => HTF = 4 hours
if currend period 3 hours => HTF = 4 hours
if currend period 4 hours => HTF = 1 day
if currend period 1 day => HTF = 1 week
if currend period 1 week => HTF = 1 week

future plan : script finds regular divergences, soon I will add hidden divergences and also I plan to add alert ;)


Feb 13
Versionshinweise: Fixed some options
Feb 13
Versionshinweise: Added Alert !
Feb 19
Versionshinweise: in order to find tops and buttoms script waits for higher time frame completion and this may cause a few bars latency. To solve it, I changed script & added early alarm system. Before completion of HTM if there is divergences you can see red label above bar and lime label below bar. Red label above bar means alert for negative divergence and lime label below bar means positive divergence.
Feb 20
Versionshinweise: Fixed the redundant white line.
Feb 25
Versionshinweise: Added hidden and exaggerated divergences. showing hidden divergences is optional. P.S. I don't recommend using hidden divergences because it's not trustable as regular ones.
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I published new version. you may want to look at it ;)
Antworten
Hi, how does the alert's work do I have to have the pair open to get it or can I get them on my phone whenever any pair is showing divergence?
+1 Antworten
@fx-insix, when you open chart, there is and alert button on right top side of screen. you set alert by using it. it has some abilities such pop-up message, send email etc. explanation and some examples https://www.tradingview.com/wiki/Creating_and_Managing_Alerts
Antworten
I noticed that there is a delay of 2 bars, is this the earliest setup?
+2 Antworten
@Lij_MC, it needs to find pivot points and this may cause delay a few bars
Antworten
Hi,
I am newbie trying to find diveregence between price and a few indicators (e.g. RSI, stochastics, MACD & Williams % R). Your program seems very good but I can only understand traditional / basic visual output, i.e. a bar connecting the price tops / bottoms and respective indiciator tops / bottoms. Can u pls. tell me how can I get this from your program or let me know if this is available in any other program. Thanks a lot.
Antworten
The script is quite promising, but I have difficulties to understand how it works and how to handle.
1. What are the dots telling me? Sometime there is a single dot. What does it mean? Where do I find the divergence?
2. The lines are drawn only when HTF candle is finished. That means, if I am in 15m, I have to wait 4 candles until the hourly candy is complete? That would be quite late then in most cases. Or did I misunderstand?

Hope you can enlighten me. Quite new to divergences.
Antworten
LonesomeTheBlue Explorer2019_3
@Explorer2019_3, 1. you can find the answer below (comments) 2. yes it needs to complete period, I didn't try but I may follow it on two chart, in one period is 15 mins and in another period is 3 or 5 mins. but I never tested
Antworten
Hi.
I receive the red error in any time frame, but it works only on 5m.
"Pine cannot determine the referencing length of a series. Try using max_bars_back in the study or strategy function"
Any advice to solve this?
Thank you!
Excellent indicator!
Antworten
Wonderful work. Will use it to define rules in my trading system. Its like a hidden gem for me, now i can see the divergence directly on my price chart instead of adding indicators.....Awesome
+1 Antworten
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