LonesomeTheBlue

Divergence for many indicator v3

Hello 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!


Release Notes: alert condition fixed
Release Notes: Added indicator names which has divergence! (optional and you must select it in the options menu)
Release Notes: "Minimum Number of Divergence" option added. by default it's value is 1.

if number of divergences is less than "Minimum Number of Divergence" then the script doesn't count it as divergence. for example if you set this to "2" then you will see then divergence line only if the number of divergence is equal or greater than "2".

I don't recommend to increase this number because sometimes divergence on only one indicator may show the trend reversal, so possible to miss trend reversal.
Release Notes: .
Release Notes: Money Flow Index (MFI) added as 11. indicator for divergence
Release Notes: Added "Change Width by Number of Divergence". If you enable this option then Line width changes by number of divergence. enabled by default.
Release Notes: Added "Check Cut-Through in indicators" option. disabled by default. if you enable this option and if there is cut-through in any indicator then it's not shown as valid divergence.
Release Notes: MAJOR UPDATE!

HIDDEN DIVERGENCES ADDED. not to make chart very crowded it shows Regular Divergence OR Hidden Divergence. if you select "Show Hidden Divergence" then it show ONLY Hidden once, if you unselect it then only Regular Ones are shown.

"Check Cut-Through in indicators" option was added. I recomment you to select/enable it. it checks there is cut-through in indicators or not, if no cut-through then it's shown as valid divergence.


ENJOY!
Release Notes: A screenshot of Hidden Divergence:

Release Notes: Alerts added for Hidden Divergences
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Comments

How to use this strategy? Green number buy ? Red number sell ?
+59 Reply
Amazing script, I have been doing some backtesting with my strategy and it's very powerful. Is there a possibility to set alerts?
+42 Reply
LonesomeTheBlue tanya.favitta
@tanya.favitta, Thank you. there are two alerts when there is positive or negative divergence. do you mean any other alert?
+24 Reply
geeklimit LonesomeTheBlue
@LonesomeTheBlue, I'd love to have a 'Trend End Signal' where if we go for of candles without another Divergence signaled, it'll put a "Trend End" signal on the chart that I can build an alert off of.

The chains of divergences are very helpful, both in listing the indicators for each link in the chain and showing the pivot points.

But I'd like a way to alert that a chain of divergence signals has ended - as in, "No Negative Divergences detected for xx candles" - and it would be great if I could adjust the sensitivity of this signal.
+1 Reply
Will this work on all the time-frames ?
+24 Reply
Divergence script may usefull with my Dynamic Support/Resistance script. Click following link and "Add to Favorite Scripts"
+23 Reply
amitavaredmi LonesomeTheBlue
@LonesomeTheBlue, Dear Sir at the outset thanks a lot for such a great script !!

God May bless you always.

If possible pls enable the following option

1. Hidden and regular divergence can be used at a time
2. clour change for Divergence(R & H) line
+5 Reply
do i need premim account to use this i only see lines and numbers?
+18 Reply
@ntsnow02, no, all users can use this. free and open-source script to all.
+8 Reply
Realnate88 LonesomeTheBlue
@LonesomeTheBlue, donate to him!!!
+10 Reply
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