This script analyses divergences for 11 predefined indicators and then draws column on the graph. Red columns for negatif divergence (means prices may go down or trend reversal), Lime columns for positive divergences (means prices may go up or trend reversal)
The script uses Pivot Points and on each bar it checks divergence between last Pivot...
This is my version of plotting the classic Positive Volume Index and Negative Volume Index. They can be wildly different sometimes and not very helpful with entry and exit points but I hope this helps clearly identify buy and sell signals. Buy when the indicator is green and sell when it is red
This was a special request so let me know when you want more scripts from me!