This indicator will plot divergence lines on the Awesome_Oscillator indicator and will give buy and sell signal by displaying arrows.
It also has a built-in Show_alert, Play_Sound, Send_Email & Send_Notification function. In default:
This indicator based on description for divergence in: Signals of the Awesome Oscillator
for example in Bullish Regular_Divergence:
Fig. 1. Bullish Divergence example
Divergence: the first analyzed bottom of the indicator is shallower than the previous one, and the corresponding price valley is deeper than the previous one. In addition, the indicator must not rise above the zero level.
Inputs parameters are shown in below pic.
Fig. 2. Input parameters of the Awesome Oscillator Divergence indicator
Two of them are important.
1. Deviation_percent: default value is 0.05 and this is the maximum percent ratio of AO value which allowed to be out of range.
As shown in Figure below:
Fig. 3. Awesome Oscillator percent ratio
Obviously, with choice 0.0 there are all AO value will be within the range.
2. Indicator_Trend_Line_Allowed_across_through_the_histogram_body: default value is no.
The following screenshots are enough to show the difference in performance for different modes yes/no.
Fig. 4. Indicator_Trend_Line_Allowed_across_through_the_histogram_body=no
Fig. 5. Indicator_Trend_Line_Allowed_across_through_the_histogram_body=yes
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