Multi oscillator divergence FREE
The indicator identifies when a divergence occurs between price and an oscillator. It identifies bullish and bearish hidden or regular (classical) divergences.
- Can detect divergences for the following oscillators: MACD, OsMA (Moving average of Oscillator), Stochastics, RSI, CCI, RVI, Awesome (AO), ADX, ATR, OBV, MFI, Momentum and Composite index. Only one oscillator can be selected per chart.
- Draws solid lines for regular/classical (potential reversal) divergences and dashed lines for hidden (trend continuation) divergences. The lines are drawn on the chart as well as in the indicator window.
- Oscillator to use: Default is MACD (main line). You can select from any of the above mentioned oscillators.
- Divergence candle shift (must be >0): Default is 1. You can set it to 2 for a stronger confirmation of the possible reversal/trend continuation (confirmed divergence). By having it set to 1 you will catch the possible movement earlier (pending divergence). On the other hand, the signal is less reliable. Values higher than 2 are not supported.
- Bars to check (divergence depth): Bars back in time to check for a divergence.
- Max history bars: Bars back in time for which to draw divergences.
- MACD OsMA AND AWESOME SETTINGS
- Fast MA: Default is 12 (set to 5 for Awesome).
- Slow MA: Default is 26 (set to 34 for Awesome).
- Signal MA (not used for Awesome): Default is 9.
- CCI, RSI, RVI, ATR, MFI, MOMENTUM SETTINGS
- Period: Default period is 14.
- STOCHASTIC SETTINGS
- K: Default is 5.
- D: Default is 3.
- Slowing: Default is 3.
- Price type
- ADX SETTINGS
- ADX period
- Line mode
- COMPOSITE INDEX SETTINGS
- RSI slow period
- RSI fast period
- Momentum period
- Average period 1
- Average period 2
- Average period 3
- Price type
- Bullish line color: Color for bullish lines.
- Bearish line color: Color for bearish lines.
Please check out my other divergence products:
- replaced the parameter 'Wait for candle close' with new parameter 'Divergence candle shift'. Value 1 = previous parameter set to False and value 2 was value True. You can also set a higher value than 2.
- added a parameter for setting the divergence depth (bars back in time to check for a divergence)