A must-have tool for any strategy based on divergence detection. 10 different oscillators can be used to detect divergences and can be combined with Double Top/Bottom patterns to confirm reversal signals.

Features

• Easily detect strong reversal signals.
• 10 different oscillators are available for divergence detection.
• Divergence & Top/Bottom detection can operate independently or combined.
• Get email / push notifications when a divergence is detected.
• The indicator is not repainting.
• Can easily be used in an EA (see For Developers).

Available Oscillators for Divergence Detection

1. Relative Strength Index (RSI).
2. Commodity Channel Index (CCI).
3. Chaikin Oscillator (CHO).
4. Chande Momentum Oscillator (CMO).
5. Moving Average Convergence Divergence (MACD).
6. Momentum.
7. Stochastic.
8. Stochastic RSI.
9. Relative Vigor Index (RVI).
10. Rate Of Change (ROC).

Inputs

• Name: The name to appear in the parentheses at the top left corner of the oscillator window.
• ENABLE Double Top - Bottom: Enable the double top - bottom indicator.
• Select Divergence Oscillator: Select one of the available divergence indicators or disable divergence detection.
• Relationship between Double Top-Bottom and RSI Divergence:
  • Combined: All Double Top - Bottom signals are shown but only the RSI Divergence Signals that correspond with Double Top - Bottom signals are shown. Both Double Top - Bottom and RSI Divergence indicators should be enabled.
  • Independent: Each indicator presents their signals independently.
• Number of Bars (Odd Number) [Affects only Divergence]: This is the number of bars that are required to detect a price high or low, including the top/bottom bar. For example, if set to 5, price HIGHs will be detected at bars which have a HIGH that is higher than the HIGH of the first two bars on their left and right. If RSI Divergence is used independently, it uses this mechanism to detect highs and lows. Otherwise, highs and lows are detected through the Double Top/Bottom indicator.

The following inputs are separated into groups relating to each of the available oscillators. only the inputs relating to the indicator selected in the Select Divergence Oscillator field need to be adjusted.

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