Divergence for Many Indicators v4 - Screener

The Divergence for Many Indicators v4 Screener indicator provides an advanced monitoring solution for tracking momentum and price discrepancies across up to 24 symbols simultaneously. By aggregating signals from multiple indicators into an organized table, this tool helps traders identify potential reversals and trend continuations across various markets from a single chart.

Usage

The Usage section focuses on how the table presents data and how to interpret the signal confirmation levels.

• Multi-Symbol Monitoring: Users can input up to 24 different symbols (e.g., BTCUSDT, AAPL, EURUSD) to be monitored in real-time.
• Table Formats: The output can be customized to show the full indicator name, just the first letter, or a total count of detected divergences for a cleaner UI.
• Signal Confirmation: The tool uses a color-coded system to identify the age and validity of a signal:
  • Orange (Not-Confirmed): The signal is currently active on an open bar and has not yet closed.
  • Green (Freshly Confirmed): The divergence was confirmed within the last 1 or 2 bars.
  • Gray (Confirmed): The signal is established and occurred 3 or more bars ago.

Details

The script utilizes a divergence detection algorithm adapted from the work of LonesomeTheBlue. It calculates divergences by comparing price action (High/Low or Close) against several technical oscillators. The scanner checks for both Regular (reversal) and Hidden (continuation) divergences. To optimize performance, it is recommended to load the script on a highly active symbol chart to ensure the background processing remains consistent.

Settings

Table Settings

• Table Location: Determines where the dashboard is positioned on the chart.
• Table Size: Adjusts the scale of the cells and text.
• Timezone: Set the local timezone for accurate signal time reporting.
• Sorting: Choose to sort the table by the most recent "Signal" or by the original "None" input order.

Divergence Settings

• Pivot Period: Sets the lookback period for identifying price pivots.
• Source for Pivot Points: Select between Close or High/Low prices.
• Divergence Type: Choose to look for Regular, Hidden, or both types.
• Oscillator Selection: Individual toggles for MACD, RSI, Stochastic, CCI, Momentum, OBV, VW-MACD, CMF, and MFI.

Symbols

• Enable/Disable Toggle: A checkbox for each of the 24 slots to include or exclude a specific symbol from the scan.
• Symbol Input: Field to enter the ticker name for monitoring.

FAQ

How can I access the Divergence for Many Indicators v4 - Screener? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

Which indicators are included in the divergence scan? The tool supports MACD, MACD Histogram, RSI, Stochastic, CCI, Momentum, OBV, Volume Weighted MACD, Chaikin Money Flow, and the Money Flow Index.

Can I use this on any timeframe? Yes, the screener will calculate divergences based on the timeframe of the chart it is currently applied to for all selected symbols.