This indicator is meant to trigger your attention to possible regular divergences. As soon as the indicator prints a red or green background, a bearish or bullish regular divergence could have formed. The divergence is determined between the close values of price and the corresponding values of the underlying plotted baseline indicator. As baseline, you can use RSI, CCI, MACD, RVI, and OBV. For each of them, you can tune their classical parameters. They are initially set to the default periods: RSI(14), CCI(14), MACD(12,26), RVI(10). OBV has no params. The detection algorithm uses a tunable window length at a default optimal value of 21.
I would classify this indicator as advanced, and I suggest its use by experienced traders only. Divergences can be extremely profitable but can destroy your account if you are not cautious. When the indicator detects a possible divergence be sure to check with your eyes. In fact, sometimes a spurious divergence is signalled because of the finite window size.
The algorithm I use in this indicator is brand new and based on a simple but tricky concept. I'm still working to refine it such to detect hidden divergences as well.
This indicator can be used on any TF, *BUT* be sure to use a volume filter for TF under H1, such to avoid low volume periods (e.g., during the Asian range). You could find my "Volume Volatility Spectrum" or "ATR volatility spectrum" well suited for that purpose.
I've seen a multitude of paid indicators for detecting divergences, some of them not cheap at all. This one is free and it works fairly well! Enjoy it, and use it at your own risk.
Phát hành các Ghi chú
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corrected an error due to redefinition of obv function, which triggered after the obv function was added to the TV standard library
Hi
The indicator is not working at the moment, do you plan fix it?
Grazie
vitelot
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@Gabryel76, hello, could you be more specific? Which problem do you experience? Please add a couple of screenshots. Thanks
Gabryel76
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@vitelot, Buonasera!
Quando cerco di metterlo sul grafico esce una finestra dove dice "Oops! Qualcosa è andato storto. Prova di nuovo piú tardi."
Fa sempre cosi
Saluti e grazie!
Gabriel
vitelot
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@Gabryel76, ora dovrebbe andare. grazie per la segnalazione.
The indicator is not working at the moment, do you plan fix it?
Grazie