This overlay indicator looks for regular price divergences against a set of oscillators, using pivot highs and lows. It compares those pivots with RSI, MACD and its histogram, stochastic, CCI, momentum, OBV, a directional oscillator, volume-weighted MACD, Chai
Indicator · Pine Script v4 · On the chart
Price Divergence
This indicator detects regular and hidden divergences across multiple technical factors plotted directly on the price chart.
GitHub stars114on the repository
Pine versionv4older, still runs
Lines of code120
Settings9inputs
LicenceNone stated
Last update1 year ago7 Nov 2024
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
Price Divergence evaluates price highs and lows against peaks and troughs identified by a five-bar fractal mechanism on RSI, RSI Stochastic, MACD, regular Stochastic, Volume moving average, Accumulation/Distribution, Fisher Transform, and CCI. Users can configure the lookback period, individual MACD parameters, RSI Stochastic lengths, and toggle an optional channel.
- Multi-oscillator divergence detection
- Regular and hidden divergence identification
- Fractal-based peak and trough confirmation
- Optional channel overlay
Details
Published by
capissimo on GitHub
Type
Indicator, Pine Script v4
Draws
On the price chart
Category
Divergence, Oscillators & momentum, Volume
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| RSI/Stoch/Volume MA/Acc. Dist./Fisher Transform/CCI Lookback | int | 55 | p |
| MACD Source | source | close | ymacd |
| MACD Fast | int | 12 | macd_fast |
| MACD Slow | int | 26 | macd_slow |
| MACD Smooth Signal | int | 9 | macd_smooth |
| RSI Stoch - RSI Length | int | 14 | prsi_sto_rsi |
| RSI Stoch - Stoch Length | int | 14 | prsi_sto_stoch |
| RSI Stoch - K Length | int | 3 | prsi_sto_k |
| Show Channel? | bool | false | bchan |
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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