💸 Divergence Finder v1.0 by Cryptothythms💸 Divergence Finder v1.0 by Cryptothythms
Intro
This indicator is meant as a quantitative look at divergences. Special thanks to RicardoSantos (legend!) for his divergence detection script which was used as a basis to construct this.
Usage
Lime Green = Regular Bullish Divergence
Dark Green = Hidden Bullish Divergence
Red = Regular Bearish Divergence
Maroon = Hidden Bearish Divergence
Remember... divergences do not have a high probability success overall. So to mitigate that this is an attempt to source many "opinions" on the state of divergence from many different classes of indicators.
Leading indicators - Lead price action, but have a higher probability of false signals
Real time indicators - Track price action, momentum, etc in a tick by tick state. Generally a 1-3 bars lag can be present.
Lagging indicators - Lag price action a little, but offer more in terms of confirmation of the divergence
Volume indicators - Look at volume flow in different fashions and give an added dimension to divergence finding. Remember volume divergences interact with price independently. For instance volume can be going down, but price going up. Be sure to understand the relationship of volume and price action when considering these readings.
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