Divergence Indicator Screener [Trading Solutions]

21 янв. 2023 г.

It's been a while since the last publication on the platform. We've been studying the charts and developing some interesting strategies and indicators, so we'll be posting some ideas in the near future.

Overview

This indicator allows you to find divergences between the price action and the classic RSI. It has the ability to anticipate trend changes.
Highs and Lows are determined using Pivot Points, wich can be adjusted in settings.

You can use this indicator to find two kind of divergences, Regular and Hidden:

Regular is when price makes a higher high, but the RSI makes a lower high
Hidden is when price makes a lower high, but the RSI makes a higher high
The opposite case for Bearish Divergence

The most important functionality of this indicator is that we can be alerted when a divergence occurs in different trading pairs, without the necessity of checking different charts at the same time, and seize opportunities offered by the market. You only have to go to Alerts Tab, click on Create Alert, select Divergence Indicator Screener and wait for the Notification in your favorite device.

You can choose any ticker to be plotted on chart and even add a new one.


Settings

To get everything started with this indicator, here are the different inputs:

• RSI Settings: Period y Source
  
• Pivot Point: Left and Right lookback bars
  
• Filter Divergences: Regular and Hidden and max and min distance from the pivot points to consider a valid divergence
  
• Draw table and Filter how much bars to look for a divergence in the past and plot it in the table: The fewer bars, less divergences shown
  

We hope you can take the most of this tool, and helps improve your day to day trading. Feel free to comment and make suggestions. We will be updating soon