Divergence Detector v1

26 ธ.ค. 2019

This indicator looks for divergences between price (close) and the indicator of your choice. You can see which indicators are supported further down. I discovered that there are 2 slight variations on how to calculate divergences in Pinescript, so I used both in this script. 

Benefit: The accuracy of divergence detection becomes much higher. 
Tradeoff: Some of the labels will overlap each other, not looking too pretty. I know how to fix this, but I didn't prioritize it with this version. 

Supported indicators: 

• RSI (Relative Strength Index) - investopedia.com/terms/r/rsi.asp
  ROC (Rate of Change) - investopedia.com/terms/r/rateofchange.asp
  CCI (Commodity Channel Index) - investopedia.com/terms/c/commoditychannelindex.asp
  OBV (On Balance Volume) - investopedia.com/terms/o/onbalancevolume.asp

You can switch between them in the settings display of the indicator. Default is set to RSI.