MACD + Divergences [Alorse] is a momentum strategy that calculates the MACD oscillator and identifies regular and hidden divergences using pivot high and low points. It filters trade signals with dual Exponential Moving Averages (EMA 150 and 600) to ensure tra
Strategy · Pine Script v6 · Own pane
Stochastic Divergence Strategy
This Pine Script v6 strategy detects classic divergences between price action and the Stochastic oscillator in a separate pane.
GitHub stars1on the repository
Pine versionv6current
Lines of code325
Settings31inputs
LicenceNone stated
Last update2 months ago15 Aug 2026
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 strategy, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
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
Bullish divergences trigger long entries when price forms lower lows while %D forms higher lows. Bearish divergences trigger short entries on higher highs with lower %D lows. Entries use position sizing from equity with optional percentage-based stop loss and take profit. Key settings control Stochastic periods, divergence sensitivity, OB/OS levels, line colors, visibility, and alert styles. It can remove broken divergences and provides visual cues for reversals.
- Stochastic oscillator
- Divergence detection
- Bullish/Bearish signals
- SL/TP exits
- OB/OS alerts
Details
Published by
raybird on GitHub
Type
Draws
Separate pane below the chart
Category
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 |
|---|---|---|---|
| Contracts per Trade | int | 1 | i_lotSize |
| Use Stop Loss | bool | true | i_useSL |
| Stop Loss (%) | float | 2.0 | i_slPerc |
| Use Take Profit | bool | true | i_useTP |
| Take Profit (%) | float | 4.0 | i_tpPerc |
| %K Length | int | 14 | i_periodK |
| %K Smoothing | int | 1 | i_smoothK |
| %D Smoothing | int | 3 | i_periodD |
| Overbought Level | int | 80 | i_obLevel |
| Oversold Level | int | 20 | i_osLevel |
| Middle Level | int | 50 | i_midLevel |
| Show %K Line | bool | true | i_showK |
Show all 31 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Show %D Line | bool | true | i_showD |
| Rising Color | color | color.green | i_colUp |
| Falling Color | color | color.red | i_colDown |
| Sideways Color | color | color.white | i_colSide |
| Bullish Div Color | color | #4caf50 | i_colBullDiv |
| Bearish Div Color | color | #f23645 | i_colBearDiv |
| Show OB/OS Alerts | bool | true | i_showAlerts |
| OB Style | string | Circle | i_alertOBstyle |
| OS Style | string | Circle | i_alertOSstyle |
| OB Alert Color | color | color.red | i_alertOBcol |
| OS Alert Color | color | color.green | i_alertOScol |
| Show Divergences | bool | true | i_showDiv |
| Pivot Lookback Left | int | 5 | i_pivotLookbackL |
| Pivot Lookback Right | int | 5 | i_pivotLookbackR |
| Max Bars to Look Back | int | 100 | i_maxBarsBack |
| Remove Broken Divergences | bool | true | i_removeBrokenDiv |
| Divergence Line Width | int | 3 | i_divLineWidth |
| Show Divergence Labels | bool | true | i_showDivLabels |
| Show Performance Report | bool | true | i_showReport |
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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