[TTI] Simpler Divergent Bars Pro

––––HISTORY & CREDITS 🏦
The Simpler Divergent Bars Pro is an adaptation of the Divergent Bar Indicator from Simpler Trading, developed by Allison. It is based on the concept of Divergent Bars, which was originally introduced by Bill Williams. This TradingView version of the indicator aims to provide a similar functionality and user experience as the original Simpler Trading indicator.

––––WHAT IT DOES 💡
The Simpler Divergent Bars Pro is an overlay indicator that displays up and down arrows on certain price bars, representing Bullish Divergent Bars (🟣purple) and Bearish Divergent Bars (🟠orange). The indicator helps traders identify potential entry and exit points by analyzing higher highs and lower lows in the price action.

Bullish Divergent Bar: The current bar must have a lower low than the previous bar AND close in the upper half of its range.
Bearish Divergent Bar: The current bar must have a higher high than the previous bar AND close in the lower half of its range.

––––HOW TO USE IT 🔧
To trade using the Simpler DynaRange, follow these guidelines:

👉Buy signals are generated when a Bullish Divergent Bar appears (current low is less than the previous low, and the close is more than the midpoint price).
👉Sell signals are generated when a Bearish Divergent Bar appears (current high is more than the previous high, and the close is less than the midpoint price).
Allison, an expert in using Divergent Bars, recommends using this indicator on timeframes of 60 minutes or higher, with a minimum of 30 minutes for specific strategies taught in her classes.

Divergent High Bar = Bearish Divergent Bar signal
Divergent Low Bar = Bullish Divergent Bar signal

Back-to-back divergent bars indicate consolidation, and squeezes are more likely to occur during this period. Allison looks for a follow-through signal within the next three bars/candles after the indicator prints. Comparing the high or low of the divergent bar with the overall lifetime higher high/lower low helps identify an entry signal.