INVITE-ONLY SCRIPT
Momentum Divergence
Updated
Trading Divergence based on Momentum (Indicator below), If you want to make this a strategy i would use all those indicators above for extra confirmation.
"Momentum Divergence" indicator includes the following:
-"Momentum Waves" (blue waves)
-"Stochastic RSI" color change (green/red lines)
-"RSI" (purple line)
-"Money Flow Index" (green/red bar below)
-"Volume Weighted Average Price" ( (yellow/red areas ) (not included yet, but i will include it soon))
Green/Red circles added for possible trend Reversals
Alerts can be set on those Green/Red circles
How to Trade:
Draw Divergence between waves as shown on the chart for LONG/SHORT position (From a Big Wave to a small Wave ... The big Wave MUST be above Blue line in order to draw a divergence line (60 Threshold))
When to Sell:
There is no specific way to exit but with support/resistance zones will help to exit position AND the other indicators will help too (DONT GET GREEDY)
More info:
Since this is a combination of oscillators it should work in any time frame.
-MUST use Heikin Ashi candles.
Coming updates:
-Include VWAP
-Automatic draws divergence between HH HL LH LL waves with pine script version 4
"Momentum Divergence" indicator includes the following:
-"Momentum Waves" (blue waves)
-"Stochastic RSI" color change (green/red lines)
-"RSI" (purple line)
-"Money Flow Index" (green/red bar below)
-"Volume Weighted Average Price" ( (yellow/red areas ) (not included yet, but i will include it soon))
Green/Red circles added for possible trend Reversals
Alerts can be set on those Green/Red circles
How to Trade:
Draw Divergence between waves as shown on the chart for LONG/SHORT position (From a Big Wave to a small Wave ... The big Wave MUST be above Blue line in order to draw a divergence line (60 Threshold))
When to Sell:
There is no specific way to exit but with support/resistance zones will help to exit position AND the other indicators will help too (DONT GET GREEDY)
More info:
Since this is a combination of oscillators it should work in any time frame.
-MUST use Heikin Ashi candles.
Coming updates:
-Include VWAP
-Automatic draws divergence between HH HL LH LL waves with pine script version 4
Release Notes
included VWAP + MFI as volume on charts Red circle = 90 OB
Green circle = 60 OS
On settings you got options to hide undesired plots.
You can also modify any value for more flexibility.
Release Notes
-Updated to v4-Fixed Green circle plots
-Added orange X = Bearish Divergence
-Added green X = Bullish Divergence
-Added Both Alerts for Bullish/Bearish Divergence
Notes:
(Default input settings are set FALSE for Bullish/Bearish Divergence, so click checkbox to activate plots)
This are POSSIBLE divergences, DO NOT DEPEND ON A SINGLE TIME FRAME. BEFORE TAKING A TRADE LOOK AT THE BIGGER TIME FRAMES.
Future Updates:
Instead of plotting X crosses it will plot Lines in between the waves for a better view.
Release Notes
Added the following: 1-Customized "Trend Volatility" script with 50 ema filter for shorts ( You can change settings trend codes and filters)
2-Barcolor (optional)
3-Column Color (optional)
4- Background Color (optional)
Notes:
-My customized "Trend Volatility" script that allows you to detect the trend direction in that way when you are scalping with the momentum divergence you know in which direction the market is heading to avoid bad trades.( now you can set any EMA filter you like either for LONG or SHORT)
-THIS IS SET AS DEFAULT FOR BTC (4H CHARTS) with my trend codes, do your own research to adapt it to ETH LTC or other coins and also different time frames.
-Trend indicators work the best on higher Time frames.
Release Notes
Updated:-modified MFI waves
- modified VWAP Waves
-modified some colors
-added 0 line
-added trend meter
-added 100 ema filter + trend meter (works the best on 4h TF)
Release Notes
-Trend meter is smaller to fit better on the charts (Oscillators) -MFI bar is turn off (To turn it on click the checkbox from inputs)
Invite-only script
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