Trading Divergence based on Momentum (Indicator below), If you want to make this a strategy i would use all those indicators above for extra confirmation. "Momentum Divergence" indicator includes the following: -"Momentum Waves" (blue waves) -"Stochastic RSI" color change (green/red lines) -"RSI" (purple line) -"Money Flow Index" (green/red bar below) -"Volume Weighted Average Price" ( (yellow/red areas ) (not included yet, but i will include it soon))
Green/Red circles added for possible trend Reversals Alerts can be set on those Green/Red circles
How to Trade: Draw Divergence between waves as shown on the chart for LONG/SHORT position (From a Big Wave to a small Wave ... The big Wave MUST be above Blue line in order to draw a divergence line (60 Threshold))
When to Sell: There is no specific way to exit but with support/resistance zones will help to exit position AND the other indicators will help too (DONT GET GREEDY)
More info: Since this is a combination of oscillators it should work in any time frame. -MUST use Heikin Ashi candles.
Coming updates: -Include VWAP -Automatic draws divergence between HH HL LH LL waves with pine script version @4
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included VWAP + MFI as volume on charts Red circle = 90 OB Green circle = 60 OS On settings you got options to hide undesired plots. You can also modify any value for more flexibility.
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-Updated to @v4 -Fixed Green circle plots -Added orange X = Bearish Divergence -Added green X = Bullish Divergence -Added Both Alerts for Bullish/Bearish Divergence
Notes: (Default input settings are set FALSE for Bullish/Bearish Divergence, so click checkbox to activate plots) This are POSSIBLE divergences, DO NOT DEPEND ON A SINGLE TIME FRAME. BEFORE TAKING A TRADE LOOK AT THE BIGGER TIME FRAMES.
Future Updates: Instead of plotting X crosses it will plot Lines in between the waves for a better view.
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Added the following: 1-Customized "Trend Volatility" script with 50 ema filter for shorts ( You can change settings trend codes and filters) 2-Barcolor (optional) 3-Column Color (optional) 4- Background Color (optional)
Notes: -My customized "Trend Volatility" script that allows you to detect the trend direction in that way when you are scalping with the momentum divergence you know in which direction the market is heading to avoid bad trades.( now you can set any EMA filter you like either for LONG or SHORT) -THIS IS SET AS DEFAULT FOR BTC (4H CHARTS) with my trend codes, do your own research to adapt it to ETH LTC or other coins and also different time frames. -Trend indicators work the best on higher Time frames.
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Updated: -modified MFI waves - modified VWAP Waves -modified some colors -added 0 line -added trend meter -added 100 ema filter + trend meter (works the best on 4h TF)
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-Trend meter is smaller to fit better on the charts (Oscillators) -MFI bar is turn off (To turn it on click the checkbox from inputs)
Hi Andres would it be possible to get access to this indicator... please thanks heaps
cleefthom91
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Can I have access to this indicator
LT8982
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Hi Andres can I also have an Access please and thank you
Wellyyall11
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Hi Andres
Would it possible to access to above indicator?
Thank you
Good luck
kiltedtrading
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Hi Andres, very well coded indicator and would be grateful if you could provide me access.... I'm really most interested in how you code the flags for the bull (green) and bear (red) as that's what I would like to see only if that's possible if you provide that only for me? private message me if you like as I really don't want all your code and only this part :-)
DemoBaller_
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Hi Andres,
Really appreciate your work on this indicator, would it be possible to access it?
Bob12345671
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Hi Andres, can I get acces to your awesome indicator? Thanks!
Lij_MC
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I see you are using Momentum Lines 2.0 for you MA's. How do we get this?
AndresVasconez
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@Lij_MC, i will combine everything in one script for everyone to use called " Momentum A "