OPEN-SOURCE SCRIPT
Divergences for many indicators v2.0
Updated
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 ;)
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 ;)
Release Notes
Fixed some optionsRelease Notes
Added Alert !Release Notes
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. Release Notes
Fixed the redundant white line. Release Notes
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.Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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