The indicator identifies when a divergence occurs between price and an oscillator/indicator. It identifies both bullish and bearish divergences. It has a RSI filter option which makes it possible to filter out only the strongest setups.

Features

• Can detect divergences for the following oscillators/indicators: MACD, OsMA, Stochastics, RSI, CCI, RVI, Awesome,  ADX, Composite index, ATR, OBV, MFI and Momentum. only one oscillator/indicator can be selected.
• Draws solid lines for regular/classical (potential reversal) divergences and dashed lines for hidden (trend continuation) divergences. The lines are drawn on the chart as well as in the indicator window.
• Sends an alert when a divergence has been detected.
• Contains 1 buffer which a developer can use with the iCustom() function in an Expert Advisor (EA). The buffer index is 4 and the shift is always 0. There is a code example at the end of the  blog. The value returned can be one of the following:
• 1 - regular bullish
• 2 - hidden bullish
• 3 - regular bearish
• 4 - hidden bearish

Input parameters

Please find the description and explanation of the input parameters here.

Please check out my other divergence products:

Divergence scanner

Double divergence scanner

Divergence EA

Divergence dashboard

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