TSO Total Top Bottom Divergence
- Dionisis Nikolopoulos
- Version: 2.0
- Updated: 24 December 2020
- Activations: 10
A must-have tool for any strategy based on divergence detection. 10 different oscillators can be used to detect divergences and can be combined with Double Top/Bottom patterns to confirm reversal signals.
SCANNER is included. Now with Scanner you can find trading opportunities and setups easily and faster.
- Easily detect strong reversal signals.
- 10 different oscillators are available for divergence detection.
- Divergence & Top/Bottom detection can operate independently or combined.
- Get email / push notifications when a divergence is detected.
- The indicator is not repainting.
- Can easily be used in an EA (see For Developers).
Available Oscillators for Divergence Detection
- Relative Strength Index (RSI).
- Commodity Channel Index (CCI).
- Chaikin Oscillator (CHO).
- Chande Momentum Oscillator (CMO).
- Moving Average Convergence Divergence (MACD).
- Stochastic RSI.
- Relative Vigor Index (RVI).
- Rate Of Change (ROC).
- Name: The name to appear in the parentheses at the top left corner of the oscillator window.
- ENABLE Double Top - Bottom: Enable the double top - bottom indicator.
- Select Divergence Oscillator: Select one of the available divergence indicators or disable divergence detection.
- Relationship between Double Top-Bottom and RSI Divergence:
- Combined: All Double Top - Bottom signals are shown but only the RSI Divergence Signals that correspond with Double Top - Bottom signals are shown. Both Double Top - Bottom and RSI Divergence indicators should be enabled.
- Independent: Each indicator presents their signals independently.
- Number of Bars (Odd Number) [Affects only Divergence]: This is the number of bars that are required to detect a price high or low, including the top/bottom bar. For example, if set to 5, price HIGHs will be detected at bars which have a HIGH that is higher than the HIGH of the first two bars on their left and right. If RSI Divergence is used independently, it uses this mechanism to detect highs and lows. Otherwise, highs and lows are detected through the Double Top/Bottom indicator.
The following inputs are separated into groups relating to each of the available oscillators. Only the inputs relating to the indicator selected in the Select Divergence Oscillator field need to be adjusted.
- RSI Period.
- RSI Applied Price: The bar price to be used for RSI calculations.
- CCI Period.
- CCI Applied Price: The bar price to be used for CCI calculations.
- CHO Fast Period: Set the fast period of CHO.
- CHO Slow Period: Set the slow period of CHO.
- CHO Method: Set the method of calculation of CHO.
- CHO Applied Volume: The volume to be used for CHO calculations. (Use real volume only when provided, e.g. stocks, and tick volume when real is not available, e.g. FOREX).
- CMO Period.
- MACD Fast Period: Set the fast period of MACD.
- MACD Slow Period: Set the slow period of MACD.
- MACD Signal Period: Set the period for the MACD signal.
- MACD Applied Price: The bar price to be used for MACD calculations.
- Momentum Period.
- Momentum Applied Price: The bar price to be used for Momentum calculations.
- Stochastic %K Period: Set the period for calculating %K of the Stochastic oscillator.
- Stochastic %D Period: Set the period for calculating %D of the Stochastic oscillator.
- Stochastic Slowing: Set the internal smoothing of %K.
- Stochastic Method: Set the method that is used to calculate %D.
- Stochastic Price Field: The volume to be used for the Stochastic oscillator calculations. (Typically Real for stocks, Tick for FOREX).
- Stochastic RSI period: Set the period of RSI.
- Stochastic RSI %K Period: Set the period for calculating %K of the Stochastic oscillator.
- Stochastic RSI %D Period: Set the period for calculating %D of the Stochastic oscillator.
- RVI Period.
- ROC Period.
- ENABLE MetaTrader Alert / Email Alert / Push Notifications
- Combined: Receive alerts only when the Top/Bottom and Divergence indicators agree on a signal.
- Only Top Bottom: Receive alerts only for Top/Bottom signals.
- Only Divergence: Receive alerts only for Divergence signals.
- Both: Receive alerts for both Top/Bottom and Divergence signals.