This indicator scans multiple tickers simultaneously to detect regular bullish and bearish MACD divergences filtered by long-term trend direction (150 EMA versus 600 EMA). It evaluates pivot highs and lows in the MACD line against price action across configura
Indicator · Pine Script v5 · On the chart
Meta Divergence
An indicator that looks for regular or hidden divergences between price pivots and up to eleven oscillators and volume tools, including MACD, RSI, Stochastic, CCI, momentum, OBV, Chaikin Money Flow and MFI.
Repaints
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code424
Settings37inputs
LicenceNone stated
Last update1 year ago17 Jan 2025
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Meta Divergence draws divergence lines and labels on the price chart, with an optional count of how many indicators agree. Pivot period, pivot source, minimum agreeing indicators and the lookback are adjustable. Signals depend on confirmed pivots unless confirmation is switched off, which can make them appear late or change.
- Regular and hidden divergence detection
- Checks ten built-in indicators plus an external one
- Divergence lines and count labels on chart
- Adjustable pivot period and lookback
- Optional 50 and 200 moving averages
Details
Published by
zhuzp98 on GitHub
Code credit
rhapsodyz, as written in the script's header
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Divergence, Oscillators & momentum
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- Signals can change on the live bar or after it closes (repainting)
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Pivot Period | int | 5 | prd |
| Source for Pivot Points | string | VWMA | source |
| Divergence Type | string | Regular | searchdiv |
| Show Indicator Names | string | Full | showindis |
| Minimum Number of Divergence | int | 1 | showlimit |
| Maximum Pivot Points to Check | int | 10 | maxpp |
| Maximum Bars to Check | int | 100 | maxbars |
| Show Divergence Number | bool | true | shownum |
| Show Only Last Divergence | bool | false | showlast |
| Don't Wait for Confirmation | bool | false | dontconfirm |
| Show Divergence Lines | bool | true | showlines |
| Show Pivot Points | bool | false | showpivot |
Show all 37 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| MACD | bool | true | calcmacd |
| MACD Histogram | bool | true | calcmacda |
| RSI | bool | true | calcrsi |
| Stochastic | bool | true | calcstoc |
| CCI | bool | true | calccci |
| Momentum | bool | true | calcmom |
| OBV | bool | true | calcobv |
| VWmacd | bool | true | calcvwmacd |
| Chaikin Money Flow | bool | true | calccmf |
| Money Flow Index | bool | true | calcmfi |
| Check External Indicator | bool | false | calcext |
| External Indicator | source | close | externalindi |
| Positive Regular Divergence | color | color.yellow | pos_reg_div_col |
| Negative Regular Divergence | color | color.navy | neg_reg_div_col |
| Positive Hidden Divergence | color | color.lime | pos_hid_div_col |
| Negative Hidden Divergence | color | color.red | neg_hid_div_col |
| Positive Divergence Text Color | color | color.black | pos_div_text_col |
| Negative Divergence Text Color | color | color.white | neg_div_text_col |
| Regular Divergence Line Style | string | Solid | reg_div_l_style_ |
| Hdden Divergence Line Style | string | Dashed | hid_div_l_style_ |
| Regular Divergence Line Width | int | 2 | reg_div_l_width |
| Hidden Divergence Line Width | int | 1 | hid_div_l_width |
| Show MAs 50 & 200 | bool | false | showmas |
| cma1col | color | color.lime | cma1col |
| cma2col | color | color.red | cma2col |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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