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Angle Regression Line with Divergence

The indicator allows determining the strength and direction of the trend precisely. The histogram displayed in a separate window shows changes of the slope of the regression line. A signal for entering a deal is crossing the zero line and/or a divergence. The indicator is also useful for wave analysis.

Input Parameters:

  • Period - period of calculation, 24 on default;
  • CalculatedBar - number of bars for displaying a divergence, 300 on default;
  • AngleTreshold - slope at which a flat is displayed, 6.0 on default (within the range from -6.0 to 6.0);
  • DisplayDiverAlert - enables notifications about divergence, true on default;
  • DisplayCrossZeroAlert - enables notifications about crossing the zero line, true on default;
  • DrawIndicatorTrendLines - enables displaying the trend lines of the indicator during divergence, true on default;
  • DrawPriceTrendLines - enables displaying the trend lines on the price chart during divergence, true on default;
  • LineBullDiverColor - select a color for the trend lines displayed during bullish divergence, Green on default;
  • LineBearDiverColor - select a color for the trend lines displayed during bearish divergence, Red on default.

Currency pair - any. Timeframe - any. Screenshots: GBPUSD М15, a real deal on EURUSD M15.

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Versão 1.30 2014.06.20
Added parameter Arrows displacement - used for convenient positioning of signal arrows.
Versão 1.20 2013.09.18
Added volume filter. When it is enabled, the divergence signals are not sent in case the volume does not exceed the average volume for previous 100 bars. Three modes are available: False, True, Auto. In Auto mode the filter is automatically enabled for timeframes M30 and lower; and it is disabled for timeframes greater than M30.
Versão 1.10 2013.09.16
Improved visualization of divergence.