Here is my new year gift for the community, Digergence for Many Indicators v4 . I tried to make it modular and readable as much as I can. Thanks to Pine Team for improving Pine Platform all the time!
How it works?
- On each candle it checks divergences between current and any of last 16 Pivot Points for the indicators.
- it search divergence...
A modification of the TV builtin "Divergence indicator" (Version 10) that can be applied to any indicator, and can be plotted on price as well.
Add your favorite oscillator, RSI, Klinger, TSI, CMF, or anything else to a chart.
Click the little ... (More) on the oscillator.
Then add this indicator "Divergence Indicator (any oscillator)" on your oscillator...
This oscilator was created by Ricardo Santos using MACD's histogram as the series to find low and high fractals and from there find and plot divergences.
I just modified it a little bit to make it to look more like the MACD public library indicator and use the actual MACD series (instead of the histogram) to find the fractals and from there plot divergences.
The idea behind this indicator is to have an expression for the amount of divergence on a given chart at every point in time . To achieve this, it adds up the magnitudes any valid divergence of any kind; bullish, bearish or their hidden variants. Where a valid divergence consists of a line on the source series (almost always the closing price), and a line on...