Revised Combo Script with Divergences

Revised Combo Script with Divergences (v5)

This comprehensive TradingView indicator combines multiple technical analysis tools to provide traders with a robust framework for identifying potential buy and sell signals. The script integrates several popular indicators and patterns, including RSI, Stochastic, EMA, Keltner Channels, and candlestick patterns, to enhance decision-making in trading.

Key Features:

RSI Analysis:

Configurable RSI length and overbought/oversold levels.
Visual bands for overbought and oversold conditions.
Divergence detection to identify potential trend reversals.
Stochastic Oscillator:

Customizable %K and %D periods with smoothing options.
Helps identify overbought and oversold conditions in the market.
Exponential Moving Averages (EMA):

Fast and slow EMAs to determine trend direction.
Configurable lengths and offsets for precise tuning.
Keltner Channels:

Dynamic volatility-based channels using true range or range options.
Helps identify potential breakout and reversal points.
Envelope Indicator:

Configurable length and percentage for upper and lower bands.
Option to use EMA or SMA for the basis calculation.
Candlestick Patterns:

Detection of key patterns such as Engulfing, Hammer, Shooting Star, and Doji.
Visual markers for easy identification on the chart.
Trade Signals:

Generates buy and sell signals based on a combination of indicator conditions.
Background color changes to indicate bullish or bearish signals.
Alerts:

Configurable alerts for buy and sell signals, as well as bullish and bearish divergences.
This script is designed for traders who want a comprehensive tool to analyze market conditions and make informed trading decisions. By combining multiple indicators and patterns, it provides a holistic view of the market, helping traders identify potential entry and exit points with greater confidence.

Note: This script is intended for educational purposes and should be used in conjunction with other analysis methods. Always perform your own research and consider risk management strategies before making trading decisions.