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Strength of Divergence Across Multiple Indicators

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Overview:

One-stop shop for all your divergence needs, including:
(1) A single metric for divergence strength across multiple indicators.
(2) Labels that make it easy to spot where the truly strong divergence is by showing the overall divergence strength value along with the number of divergent indicators. Hovering over the label shows a breakdown of each divergent indicator and its individual divergence strength value.
(3) Fully customizable, including inputs for pivot lengths, divergence types, and weights for every component of the divergence strength calculation. This allows you to quickly and easily optimize the output for any chart. Don't worry, the default settings will have you covered if you're not interested in what's going on under the hood.

The Divergence Strength Calculation:

The total divergence strength value is the sum of the divergence strengths of all indicators for which divergence was detected at a given bar. Each indicator's individual divergence strength is comprised of two basic components: (1) |ΔPrice| - the magnitude of the change in price over the divergence period (pivot-to-pivot), and (2) |ΔIndicator| - the magnitude of the change in indicator value over the divergence period.

Because different indicators' scales and volatility can vary greatly, the Δ values are expressed in terms of standard deviation to ensure that the values are meaningful and equitable across all indicators and assets/instruments/currency pairs, etc:

|ΔIndicator| = |indicator_value_1 - indicator_value_2| / 2 * StDev(indicator_series,100)

Calculation Weights:

All components of the calculation are weighted and can be modified on the Inputs page in settings (weights are simply multipliers). For example, if you think hidden divergence should carry less weight than regular divergence, you can assign it a lesser weight. Or if you think RSI divergence is worth more than OBV divergence, you can adjust their weights accordingly. List of weights:

Regular divergence weight - default = 1
Hidden divergence weight - default = 1
ΔPrice weight - default = 0.5 (multiplied by the ΔPrice component)
ΔIndicator weight - default = 1.5 (multiplied by the ΔIndicator component)
RSI weight - default = 1.1
OBV weight - default = 0.8
MACD weight - default = 0.9
STOCH weight - default = 0.9

Development for additional indicators is ongoing, as is research into the optimal weight configuration(s).

Other Inputs:

Pivot lengths - specify the number of bars before and after each pivot high/low to consider it a valid candidate for divergence.
Lookback bars and Lookback pivots - specify the number of bars or the number of pivots to look back across.
Price sources - specify separate price sources for bullish and bearish divergence
Display settings - specify how lines and labels should display, including which divergence strength values should show the largest labels. Include/exclude specific divergence types and indicators.

Please report any bugs, or let me know if you have any enhancement suggestions or requests for additional indicators.

@reees
Catatan Pelepasan: (1) Added CCI indicator
(2) Better checking for pivots on indicator series
Catatan Pelepasan: Added MFI indicator (Money Flow Index)
Catatan Pelepasan: Minor adjustments to Inputs
Catatan Pelepasan: Added AO (Awesome Oscillator) indicator
Catatan Pelepasan: Fine-tuned indicator pivot checking to be more inclusive
Catatan Pelepasan: Added alerts

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