1Copy the scriptPress Copy script above, or the copy button on the code below.
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
119 lines of Pine Script v5 from SMT Divergence.txt, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
SMT Divergence finds fractal pivot highs and lows on both, compares the latest two on each, and flags a bullish or bearish divergence when their directions disagree within about 30 bars. Lines and labels can be shown separately for bottom and top divergences. The fractal period is adjustable. Pivots confirm only after the fractal length, so marks appear late.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Second Symbol
symbol
XAUUSD
Sym
Divergence Fractal Periods
int
2
n
Show SMT Divergence Line from the Bottom.
bool
true
Bull_Line
Show SMT Divergence Label from the Bottom.
bool
true
Bull_Label
Show SMT Divergence Line from the Top.
bool
true
Bear_Line
Show SMT Divergence Label from the Top.
bool
true
Bear_Label
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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