JustUncleL

Price Divergence Detector V3 revised by JustUncleL

This is a revised version of the original "Price Divergence Detector by RicardoSantos".
Description:
Price Divergence detection for various methods : RSI , MACD , STOCH , VOLUME , ACC-DIST, FISHER, CCI , BB %B and Ehlers IdealRSI. Both Hidden and Regular Divergences are detected.

Mofidifications:
Revision 3.0 by JustUncleL
  • Added option to disable/enable Hidden and Regular Divergence
  • Added new divergence method BB %B (close only)
  • Added new divergence mothos Ehlers IdealRSI (close only)

Revision 2.0 - by RicardoSantos

References:
Information on Divergence Trading:
Phát hành các Ghi chú: Updated to Revision 3 of Pinescript
Updated with some RicardoSantos version 2.022 revisions.
Phát hành các Ghi chú: ..
Added Elders Force Index method.
Other small changes.
Phát hành các Ghi chú: 3.2 Update
  • Added Trend Volume Accumulation, this option really works only well with Renko and HA candles. You have the option to use EMA for trend direction change instead of candle bull/bear direction.
  • NOTE: Trader discretion is required to manually filter out invalid Divergence, there is no account made for the length of each trend when comparisons are made.
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JustUncleL
Hello.

I like this script.
Thank you very much for making this script.

Sometimes i notice there is divergence which is not recognized by the script, for example :


Thank you.
Phản hồi
JustUncleL RedAndBlue
@xrvel, It's quite difficult to make a script 100% accurate to what the human eyes can see. The trouble in the above example for a mechanical indicator is there are lots of peeks in Price and RSI, but the mechanical finder only looks at the last two fractal peeks, making the start point at a bit further on at the next smallish peek, so no divergence. I may look at trying to improve the indicator at a later date.
Phản hồi
RedAndBlue JustUncleL
@JustUncleL, thank you very much.
Phản hồi
Awesome work
Phản hồi
This PDDR (Price Divergence Detector) is a great script and the version 3.2 with the TVA (trend volume accumulation) is the best companion to the Weis Wave indicator.
Are you aware of "Inharmonious action"? It's like a Price Divergence but while Price Divergenge detects opposite directions on the Oscillator and the Price the "Inharmonious action" detects difference of speed when the Oscillator and the Price go on the same direction.
See https://learncrypto.io/lesson/lesson-19-the-wyckoff-wave-crypto-index-and-the-optimism-pessimism-index/
The example is with the optimism pessimism index but I think it will work with TVA or any other oscillator.
Can you update PDDR with this new feature?
Can you make a separated PDDR but with the divergences plotted on the oscillator too?
I know you can. Your the best.
+1 Phản hồi
JustUncleL sal157011
@sal157011, Sorry I'm not planning any more updates to this indicator.
Phản hồi
sal157011 JustUncleL
@JustUncleL, Thanks for your rapid reply. Thanks to your disclosed code I'm going to try to do it myself but only for the TVA method and only for one source. To plot the divergences on the oscillator it's going to be easy but the "Inharmonious action" will take much more time to implement for I have to find a way to filter the difference of speed.
Phản hồi
I would like to know how to find this TVA indicator in the trading view, could you help me?
Phản hồi
JustUncleL Sheriff166
@Cherif166, You can find all my Published scripts listed under my Profile, including TVA
Phản hồi
@JustUncleL great work of both of you and RicardoSantos!

Why did you choose to calculate the RSI (and other oscillators) separately for both the 'high' and the 'low' price instead of the using one RSI calculation for 'close' only?
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