Awesome Oscillator with Divergence

19 Nov 2024

Simple Awesome Oscillator with Divergences

This TradingView script combines the classic Awesome Oscillator (AO) with divergence detection. It plots AO as a histogram, highlighting changes in momentum. Divergences are identified based on pivot highs and lows, signaling potential trend reversals:

- Bullish Divergence: Price makes lower lows, AO makes higher lows.
- Bearish Divergence: Price makes higher highs, AO makes lower highs.

Visual signals (arrows) and alerts ensure clear identification, making it ideal for traders focusing on momentum and trend reversals.

kelmarin

Nota Keluaran

Now the indicator has:

Customizable inputs for:
- AO periods (Fast/Slow)
- Choice between Ema and SMA for the calculation of the AO
- Lookback for pivot (right/left)
- Minimum range/maximum for divergence
- Activation/deactivation of any type of divergence (regular/hidden, bullish/bearyish)
- Hidden divergences (Hidden Bullish and Hidden Bearish) with label and dedicated colors
- Alert Condition for each type of divergence

How to use new inputs
- You can choose whether to use Ema (faster) or SMA (slower) for the AO.
- You can activate/deactivate the display of any type of divergence.
- You can adjust the lookback and range parameters directly from the input panel of the indicator.

What changes compared to before
The indicator is now much more flexible and powerful, identical as logic to that "for ideas", but with modern syntax and the possibility to choose between SMA/Ema.
You can adapt the sensitivity and type of signals according to your operational preferences.

kelmarin

Nota Keluaran

Update: The indicator has been downgraded to version 5 because with TradingView's display.pane feature the indicator is inaccurate and was missing important divergences.