––––HISTORY & CREDITS 🏦
The Simpler Divergent Bars Pro is an adaptation of the Divergent Bar Indicator from Simpler Trading, developed by Allison. It is based on the concept of Divergent Bars, which was originally introduced by Bill Williams. This TradingView version of the indicator aims to provide a similar functionality and user experience as the original...
Updated an existing Divergent Bar script to be able to show all divergent bars. There are 2 set of divergent bars that can be turned on. The original one based on price and alligator lines, and a new second one that shows ALL divergent bars. The second set has lighter lines and colors to differentiate them from the filtered alligator divergent bars.
Bill William Bull/Bear divergent bars
See: Book, Trading Chaos by Bill Williams
Coded by polyclick
A bullish (green) divergent bar, signals a trend switch from bear -> bull
-> The current bar has a lower low than the previous bar, but closes in the upper half of the candle.
-> This means the bulls are pushing from below and are trying to take over,...