This indicator is designed to display multiple divergence signals on the chart, including divergences for indicators such as volume, CCI, MACD, OBV, CMF, RSI, MFI, and more.
Below is an explanation of how divergences for these indicators are displayed:
1. Volume Similar to OBV, but with some adjustments. Bearish Divergence: The price hits a new high, but demand starts to weaken. Bullish Divergence: The price hits a new low, but supply starts to weaken.
2. CCI Bearish Divergence: The price hits a new high, but CCI forms a lower high, with the previous CCI high being > 200. Bullish Divergence: The price hits a new low, but CCI forms a higher low, with the previous CCI low being < -200.
3. MACD Bearish Divergence: The price hits a new high, but the MACD fast and slow lines cross at a lower point. Bullish Divergence: The price hits a new low, but the MACD fast and slow lines cross at a higher point.
4. OBV Bearish Divergence: The price hits a new high, but OBV forms a lower high. Bullish Divergence: The price hits a new low, but OBV forms a higher low.
5. CMF Bearish Divergence: The price hits a new high, but CMF forms a lower high. Bullish Divergence: The price hits a new low, but CMF forms a higher low.
6. RSI Bearish Divergence: The price hits a new high, but RSI forms a lower high, with the previous RSI high being > 70. Bullish Divergence: The price hits a new low, but RSI forms a higher low, with the previous RSI low being < 30.
7. MFI Bearish Divergence: The price hits a new high, but MFI forms a lower high, with the previous MFI high being > 80. Bullish Divergence: The price hits a new low, but MFI forms a higher low, with the previous MFI low being < 20. The indicator also includes a VMA line to assist in determining the current trend.
Additionally, this indicator provides a subchart that displays seven indicators: Volume, CCI, MACD, OBV, CMF, RSI, and MFI.
When you identify a divergence in the price, you can use the subchart to inspect the actual behavior of each indicator.
Reminders:
1.Having too many divergences isn't necessarily better. Personally, I usually use divergences from four indicators: Volume, CCI, MACD, OBV , and sometimes RSI. I recommend you only use divergences from the indicators you are familiar with. If you're not familiar with a particular indicator, you can disable its divergence signals in the settings.
2.Some indicators are related to volume, such as OBV, Volume, MFI, and CMF, so the chart you use should reflect the market's main volume. For example, in the Bitcoin market, I recommend using the COINBASE:BTCUSD chart.
Note: Although this indicator currently displays divergences for seven indicators, I may add more indicators in the future. If you'd like to see divergence signals for a specific indicator included, feel free to leave a comment and let me know.
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Penafian
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