This indicator is a custom divergence indicator which detects divergence and plots the potential change in market direction on the chart using lines and a signal label PB /PS (potential buy/sell) with a second indicator (oscillator) which plots lines on the histogram to show when the price is potentially changing market direction.
How to use? - You match a potential buy/sell signal with a PB /PS on the histogram. Once a match has been found and you have a PB /PS line up and correlate you then watch price action to identify whether or not the price is potentially making a change in direction. It can be used on any timeframe.
This script is intended to help beginners determine trends in the market and when a trend might be potentially changing direction.
For moderators - This is a BETA indicator and is being published so I can have people test it without people being able to see code. This version of the script is not the final draft and changes will be made. This is only a BETA and is not being sold.
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact Jason.efx for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it until you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Public Library.
Warning: please read before requesting access.