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Divergence

Multiple divergences NON-REPAINT by PeterODivergences are well-known tool for finding trend reversals. Powerful, yet... unreliable. Sometimes they show up, sometimes they don't. Sometimes they really mean trend end, sometimes the trend continues. I've witnessed countless discussions about which indicator to hunt for divergences on. All pointless. Earlier today I found a very inspirational script by Lonesometheblue, combining multiple divergences together. Actually - summing them up and showing hunted divergences count in a label. Because if a divergence shows up on a single indicator like RSI, it can indeed mean trend reversal, but... yeah, check previous pargraph. But if this divergence shows up on 8 different indicators at the same time, then chances increase, don't they? I decided to do my own version of Lonesome's indicator, because that one is using Label.New, which doesn't allow analysing entire script, only latest 50 occurences or so. I'm not going to hide it - I copy-pasted a lot from Lonesome's code. And from Everget's built-in divergences script, which you can find in PineScript/New. I didn't even bother to modify variable names or cover tracks in any other way, pretending it is my work from scratch. All with these two gentlemen consent and blessing. I added labels from myself, plus bit of rework and here it is:) I hope you'll find it useful. P.S. While analyzing divergences today, I discovered one thing. Hidden divergences are not useless, as many people think. But they should be used at trend dips to join the trend, not at trend ends, as reversals. Experiment yourself. P.S.2 Still, never use only divergences. They need confirmation, they are not self-fulfilling prophecy.
Pine Script™ indicator
by Peter_O
68
Market Waves Omega All-In-One IndicatorMarket Waves Omega Indicator consists of 5 separate indicators wrapped into one display area, which makes it easy to see all the information in one go. Momentum waves The main area of Market Waves Omega Indicator are the momentum waves, this shows bear and bull divergence as shown on the diagram below: The idea here is that you are looking for a big momentum wave, followed by a smaller trigger wave. At that point, the price will move accordingly. Note the lighter blue peaks, when these light blue peaks cut in, it’s the end of that trend and the actual trigger point. The wave is not complete until the close of that candle. The best way to use Market Waves Omega Indicator is to work on the higher time frames first, to get a bigger picture of where the market is moving. So on the daily, if it looks bullish, then you should be looking for bull triggers on the smaller time frames to trade. VWAP The next indicator that needs to be considered is the VWAP, shown on the diagram above in yellow. VWAP is volume-weighted average price and shows where the volume is on a positive or negative position. This is typically used by traders on the smaller time frames but gives the user an idea of where the main buyers or sellers are at that point. RSI Another indicator within Market Waves Omega Indicator is the RSI, which every trader uses to get an idea of whether the price is overbought or oversold: Money Flow The Money Flow Index (MFI) is a technical oscillator that uses price and volume for identifying overbought or oversold conditions in an asset. It can also be used to spot divergences which warn of a trend change in price: Stoch RSI Stochastic RSI oscillator was developed to take advantage of both momentum indicators in order to create a more sensitive indicator that is attuned to a specific security's historical performance rather than a generalized analysis of price change. Green Dots One of the biggest indicators use to trade off the Market Waves Omega Indicator are green dots : The green dots are showing when the RSI is super low and therefore should spark some buying pressure due to market being oversold. One great thing about Market Waves Omega Indicator is that all the data is in one place, and you can see a lot of information, making it easier to scroll through the different time frames at speed and understand the general market position.
Pine Script™ indicator
by V0ld3mar
3
MACD divergence with line drawing by RexioAnother appoach to finding divergences at MACD. This time I think it is much smoother so I could check for divergences between two "peaks" at MACD. I added my SL line which is last peak +- 1xATR. And the second line is peak between two points of divergence and most of the time it acts like an SR line. If the higher timeframe trend backs up our divergence (for example: higher trend UP - divergence for L position) I can try to jump in after crossing EMA10. This indicator is only sugestion for me. I always check price action, trend, SR line before I take any action. Every people who will test this indicator need to know basics about divergences as THISE ARE NOT BUY/SELL SIGNALS. If you want to help me and support my coding please contact me via private msg.
Pine Script™ indicator
by Rexio
11
Divergence for many indicator v3Hello Everyone. Almost one year later, with Pine version 4, I developed new version of the Divergence for many Indicator. It analyses divergences for 10 predefined indicators and then draws line on the graph. Red for negatif divergence (means prices may go down or trend reversal), Lime for positive divergences (means prices may go up or trend reversal) Divergences version 2 has latency because it waits higher time frame completion. in this new version the script uses Pivot Points and on every bar it checks divergence between last Pivot point and current bar and if it finds any then immediately draws line and removes old one. so there is no latency with this version. There are predefined 10 indicators in the script, you have option to choose which indicators the script would analyse for divergence. (RSI , MACD , MACD Histogram, Stochastic , CCI , Momentum, OBV, Diosc, VWMACD and CMF) In replay mode you can see how the script puts new divergence line and removes old one. you better see it for yourself by using replay mode. Hope you Enjoy!
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Pine Script™ indicator
by LonesomeTheBlue
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inwCoin Sto RSI Bullish/Bearish Divergence StrategyinwCoin Stochastic RSI Bullish / Bearish Divergence Strategy This strategy is an alternated version of inwCoin RSI Bull/Bear div Strategy. Because I want to know if the popular "STO RSI Divergence" Strategy really work in real trade? The good thing about Sto RSI that it can provide us with more entry data for both long and short. Because sometime RSI will never go to OB or OS zone again.. But sto will keep swinging between OB and OS zone. Entry Condition ============= BUY = Smooth K is higher low + price is lower low SELL = Smooth K is lower high + price is higher high Other Parameters =============== - Use stop loss + stop loss % - Data source for high/low price check - Lookback period for divergence Conclusion ========== This strategy is working great for short entry when market is in sideway down. Like in 1/7/2019 - 1/1/2020 or 1/1/2018-1/1/2019 But your portfolio will go kaboom if you short in the uptrend.... Also, this is not the good strategy for trend following + long position But it's great addition if you want to pyramid your position in uptrend. or looking for good spot to entry long if you miss the uptrend bus.
Pine Script™ strategy
by Real_inwCoin
2
[KICK] Smart OBVCD DivergencesThis indicator is part of a pair of indicators that make it easier to spot divergences in On Balance Volume , but make the calculations using a unique method. THIS ONE IS IN THE UPPER (PRICE ACTION) PANE OF THE SAMPLE CHART. Volume is segmented into buy or sell volume by analyzing smaller timeframes (down to 1 minute) The sell vs. buy volume is calculated as a running total (as per normal OBV calculations) The Convergence/Divergence of the OBV Buy and Sell volumes are calculated and smoothed with 3rd generation averaging methods The Smart OBVCD indicator (THE RELATED INDICATOR) visualizes the above calculation on a histogram to make it easier to see the values and how they relate to the price action. The Smart OBVCD Divergence indicator (THIS ONE) plots Regular and Hidden Bullish and Bearish divergence on higher timeframes based on the calculations and also provides early “warnings” for unconfirmed divergences forming (note: these are unconfirmed because the higher high or lower low have now yet been confirmed on the higher timeframe). Use the link below to watch a tutorial video, request a trial, or purchase for access.
Pine Script™ indicator
by CryptoKick
2