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The study indicated in your post lets you choose ONE divergence to plot.Apologies if I am asking too much,
https://usethinkscript.com/threads/rsi-obv-macd-stoch-cci-or-mfi-divergence-for-thinkorswim.13106/
but is it possible to assign a strength value to the divergences by adding weights to each divergence measurement?
That way, I suppose, finding bullish or bearish signals and deciding whether to buy or sell a stock would be much easier. I have less experience as to what weighting value should be put on which divergence measurements, so any help or advice is much appreciated.
Thanks
what do the colors really mean... is the purple time to go short? green is time to go long?I changed the code to show on upper chart with multiple divergence options. i.e RSI, CCI, MACD, OBV...etc
CSS:#// This source code is subject to the terms of the Mozilla Public License 2.0 at #study("Multiple Divergence Indicator w/Alerts") # Created by Sam4Cok@Samer800 - 10/2022 as requested from https://usethinkscript.com memeber input src = hl2; # "RSI Source" input Indicator = {Default RSI, OBV, MACD, STOCH, CCI, MFI}; input alerts = yes; input sound = {default "NoSound", "Ding", "Bell", "Chimes", "Ring"}; input lbR = 5; # "Pivot Lookback Right" input lbL = 5; # "Pivot Lookback Left" input MaxLookback = 60; # "Max of Lookback Range" input MinLookback = 5; # "Min of Lookback Range" input DivBull = yes; # "Plot Bullish" input DivHiddenBull = no; # "Plot Hidden Bullish" input DivBear = yes; # "Plot Bearish" input DivHiddenBear = no; # "Plot Hidden Bearish" def na = double.NaN; #mfi(src, length) => script mfi { input src = close; input length = 14; def upper = sum(volume * (if(src-src[1]) <= 0.0 then 0.0 else src), length); def lower = sum(volume * (if(src-src[1]) >= 0.0 then 0.0 else src), length); def mfi = 100.0 - (100.0 / (1.0 + upper / lower)); plot return = mfi; } # stoch(source, high, low, length) => script stoch { input src = close; input h = high; input l = low; input len = 0; def stoch = 100 * (src - lowest(l, len)) / (highest(h, len) - lowest(l, len)); plot return = stoch; } def RSI = RSI(Price = src, length= 14); def obv = TotalSum(sign((close-close[1])) * volume); def MACD = macd().Diff; def stochastic = stoch(close, high, low, 14); def CCI = CCI(Length=20); def mfi = MFI(src,14); #----Div----------- def divSrc; switch (Indicator) { case RSI: divSrc = RSI; case OBV: divSrc = OBV; case MACD: divSrc = MACD; case STOCH: divSrc = Stochastic; case CCI: divSrc = CCI; case MFI: divSrc = MFI; } script FindPivots { input dat = close; # default data or study being evaluated input HL = 0; # default high or low pivot designation, -1 low, +1 high input lbL = 5; # default Pivot Lookback Left input lbR = 1; # default Pivot Lookback Right ############## def _nan; # used for non-number returns def _BN; # the current barnumber def _VStop; # confirms that the lookforward period continues the pivot trend def _V; # the Value at the actual pivot point ############## _BN = BarNumber(); _nan = Double.NaN; _VStop = if !isNaN(dat) and lbr > 0 and lbl > 0 then fold a = 1 to lbR + 1 with b=1 while b do if HL > 0 then dat > GetValue(dat,-a) else dat < GetValue(dat,-a) else _nan; if (HL > 0) { _V = if _BN > lbL and dat == Highest(dat, lbL+1) and _VStop then dat else _nan; } else { _V = if _BN > lbL and dat == Lowest(dat, lbL+1) and _VStop then dat else _nan; } plot result = if !IsNaN(_V) and _VStop then _V else _nan; } #valuewhen (Cond, source, lbr, occurrence) script valuewhen { input cond = 0; input src = close; input lbr = 0; input occurrence = 0; def n = occurrence + 1; def offset = fold j = 0 to 200 with p=1 while p < n + 1 do p + ( if p == n then j - n else if cond[j]==yes then 1 else 0 ); plot price = GetValue(src[lbr], offset-1); } #_inRange(cond) => script _inRange { input cond = yes; input rangeUpper = 60; input rangeLower = 5; def bars = if cond then 0 else bars[1] + 1; def inrange = (rangeLower <= bars) and (bars <= rangeUpper); plot retrun = inRange; } #Div(source, lbl, lbr, MaxLookback, MinLookback, DivBull = yes, DivBear = yes, DivHiddenBull=no, DivHiddenBear=no), script Div { input divSrc = close; input lbl = 5; input lbr = 5; input MaxLookback = 60; input MinLookback = 5; input DivBull = yes; input DivBear = yes; input DivHiddenBull=no; input DivHiddenBear=no; def h = high; def l = low; def pl = findpivots(divSrc,-1, lbL, lbR); def ph = findpivots(divSrc, 1, lbL, lbR); def plFound = if !isNaN(pl) then 1 else 0; def phFound = if !isNaN(ph) then 1 else 0; def vlFound = valuewhen(plFound, divSrc, 0, 1); def vhFound = valuewhen(phFound, divSrc, 0, 1); def plPrice = valuewhen(plFound, l, 0, 1); def phPrice = valuewhen(phFound, h, 0, 1); #// Regular Bullish def oscHL = divSrc > vlFound and _inRange(plFound[1],MaxLookback,MinLookback); def priceLL = l < plPrice; def bullCond = DivBull and plFound and oscHL and priceLL; #// Hidden Bullish def oscLL = divSrc[lbr] < vlFound and _inRange(plFound[1],MaxLookback,MinLookback); def priceHL = l[lbr] > plPrice; def hiddenBullCond = DivHiddenBull and plFound and oscLL and priceHL; #// Regular Bearish def oscLH = divSrc < vhFound and _inRange(phFound[1],MaxLookback,MinLookback); def priceHH = h > phPrice; def bearCond = DivBear and phFound and oscLH and priceHH; #// Hidden Bearish def oscHH = divSrc > vhFound and _inRange(phFound[1],MaxLookback,MinLookback); def priceLH = h < phPrice; def hiddenBearCond = DivHiddenBear and phFound and oscHH and priceLH; plot BullDiv = if bullCond then 1 else 0; plot BearDiv = if bearCond then 1 else 0; plot hidBullDiv = if hiddenBullCond then 1 else 0; plot HidBearDiv = if hiddenBearCond then 1 else 0; } #---- Div def bullCond = DIV(divSrc,lbl,lbr,MaxLookback,MinLookback,DivBull, DivBear, DivHiddenBull, DivHiddenBear).BullDiv; def bearCond = DIV(divSrc,lbl,lbr,MaxLookback,MinLookback, DivBull, DivBear, DivHiddenBull, DivHiddenBear).BearDiv; def hiddenBullCond = DIV(divSrc,lbl,lbr,MaxLookback,MinLookback, DivBull, DivBear, DivHiddenBull, DivHiddenBear).hidBullDiv; def hiddenBearCond = DIV(divSrc,lbl,lbr,MaxLookback,MinLookback, DivBull, DivBear, DivHiddenBull, DivHiddenBear).HidBearDiv; #------ Bubbles addchartbubble(bullCond, low, Indicator, color.GREEN, no); addchartbubble(bearCond, high, Indicator, CreateColor(156,39,176), yes); addchartbubble(hiddenBullCond, low, Indicator, color.DARK_green, no); addchartbubble(hiddenBearCond, high, Indicator, color.DARK_red, yes); #---- Alerts Alert(alerts and bullCond, "Regular Bull Div", Alert.BAR, sound); Alert(alerts and bearCond, "Regular Bear Div", Alert.BAR, sound); Alert(alerts and hiddenBullCond, "Hidden Bull Div", Alert.BAR, sound); Alert(alerts and hiddenBearCond, "Hidden Bear Div", Alert.BAR, sound); #----End
I am seeing the same kind of behavior. I have the indicator on, day just chugs along, no bubbles appear. I then pop off to a new stock and return to the prior stock and bam there are bubbles. Plus I can actually see where the divergence is happening. But no bubble.Hi @samer800. I added this on my chart and looks good to me on detecting the divergences. My problem is that the bubbles does not seem to show real time. Like today on the /ES I did not see any at all the whole time. I then had to add another indicator that refreshed my chart and then suddenly there were at least 7 bubbles that showed up ( i added three times with different indicator sources). What am I missing? Is it supposed to plot real time or at least a bit delayed?
Divergences do not update in real time.I am seeing the same kind of behavior. I have the indicator on, day just chugs along, no bubbles appear. I then pop off to a new stock and return to the prior stock and bam there are bubbles. Plus I can actually see where the divergence is happening. But no bubble.
So seems like an issue with refreshing in real time.
https://usethinkscript.com/threads/rsi-obv-macd-stoch-cci-or-mfi-divergence-for-thinkorswim.13106/Is there a link to the indicator? I dont see it.
would you please assist with adding the DMI Oscillator indicator to this same code?I changed the code to show on upper chart with multiple divergence options. i.e RSI, CCI, MACD, OBV...etc
CSS:#// ToS Indicator #study("Multiple Divergence Indicator w/Alerts") # Created by Sam4Cok@Samer800 - 10/2022 as requested from https://usethinkscript.com memeber input src = hl2; # "RSI Source" input Indicator = {Default RSI, OBV, MACD, STOCH, CCI, MFI}; input alerts = yes; input sound = {default "NoSound", "Ding", "Bell", "Chimes", "Ring"}; input lbR = 5; # "Pivot Lookback Right" input lbL = 5; # "Pivot Lookback Left" input MaxLookback = 60; # "Max of Lookback Range" input MinLookback = 5; # "Min of Lookback Range" input DivBull = yes; # "Plot Bullish" input DivHiddenBull = no; # "Plot Hidden Bullish" input DivBear = yes; # "Plot Bearish" input DivHiddenBear = no; # "Plot Hidden Bearish" def na = double.NaN; #mfi(src, length) => script mfi { input src = close; input length = 14; def upper = sum(volume * (if(src-src[1]) <= 0.0 then 0.0 else src), length); def lower = sum(volume * (if(src-src[1]) >= 0.0 then 0.0 else src), length); def mfi = 100.0 - (100.0 / (1.0 + upper / lower)); plot return = mfi; } # stoch(source, high, low, length) => script stoch { input src = close; input h = high; input l = low; input len = 0; def stoch = 100 * (src - lowest(l, len)) / (highest(h, len) - lowest(l, len)); plot return = stoch; } def RSI = RSI(Price = src, length= 14); def obv = TotalSum(sign((close-close[1])) * volume); def MACD = macd().Diff; def stochastic = stoch(close, high, low, 14); def CCI = CCI(Length=20); def mfi = MFI(src,14); #----Div----------- def divSrc; switch (Indicator) { case RSI: divSrc = RSI; case OBV: divSrc = OBV; case MACD: divSrc = MACD; case STOCH: divSrc = Stochastic; case CCI: divSrc = CCI; case MFI: divSrc = MFI; } script FindPivots { input dat = close; # default data or study being evaluated input HL = 0; # default high or low pivot designation, -1 low, +1 high input lbL = 5; # default Pivot Lookback Left input lbR = 1; # default Pivot Lookback Right ############## def _nan; # used for non-number returns def _BN; # the current barnumber def _VStop; # confirms that the lookforward period continues the pivot trend def _V; # the Value at the actual pivot point ############## _BN = BarNumber(); _nan = Double.NaN; _VStop = if !isNaN(dat) and lbr > 0 and lbl > 0 then fold a = 1 to lbR + 1 with b=1 while b do if HL > 0 then dat > GetValue(dat,-a) else dat < GetValue(dat,-a) else _nan; if (HL > 0) { _V = if _BN > lbL and dat == Highest(dat, lbL+1) and _VStop then dat else _nan; } else { _V = if _BN > lbL and dat == Lowest(dat, lbL+1) and _VStop then dat else _nan; } plot result = if !IsNaN(_V) and _VStop then _V else _nan; } #valuewhen (Cond, source, lbr, occurrence) script valuewhen { input cond = 0; input src = close; input lbr = 0; input occurrence = 0; def n = occurrence + 1; def offset = fold j = 0 to 200 with p=1 while p < n + 1 do p + ( if p == n then j - n else if cond[j]==yes then 1 else 0 ); plot price = GetValue(src[lbr], offset-1); } #_inRange(cond) => script _inRange { input cond = yes; input rangeUpper = 60; input rangeLower = 5; def bars = if cond then 0 else bars[1] + 1; def inrange = (rangeLower <= bars) and (bars <= rangeUpper); plot retrun = inRange; } #Div(source, lbl, lbr, MaxLookback, MinLookback, DivBull = yes, DivBear = yes, DivHiddenBull=no, DivHiddenBear=no), script Div { input divSrc = close; input lbl = 5; input lbr = 5; input MaxLookback = 60; input MinLookback = 5; input DivBull = yes; input DivBear = yes; input DivHiddenBull=no; input DivHiddenBear=no; def h = high; def l = low; def pl = findpivots(divSrc,-1, lbL, lbR); def ph = findpivots(divSrc, 1, lbL, lbR); def plFound = if !isNaN(pl) then 1 else 0; def phFound = if !isNaN(ph) then 1 else 0; def vlFound = valuewhen(plFound, divSrc, 0, 1); def vhFound = valuewhen(phFound, divSrc, 0, 1); def plPrice = valuewhen(plFound, l, 0, 1); def phPrice = valuewhen(phFound, h, 0, 1); #// Regular Bullish def oscHL = divSrc > vlFound and _inRange(plFound[1],MaxLookback,MinLookback); def priceLL = l < plPrice; def bullCond = DivBull and plFound and oscHL and priceLL; #// Hidden Bullish def oscLL = divSrc[lbr] < vlFound and _inRange(plFound[1],MaxLookback,MinLookback); def priceHL = l[lbr] > plPrice; def hiddenBullCond = DivHiddenBull and plFound and oscLL and priceHL; #// Regular Bearish def oscLH = divSrc < vhFound and _inRange(phFound[1],MaxLookback,MinLookback); def priceHH = h > phPrice; def bearCond = DivBear and phFound and oscLH and priceHH; #// Hidden Bearish def oscHH = divSrc > vhFound and _inRange(phFound[1],MaxLookback,MinLookback); def priceLH = h < phPrice; def hiddenBearCond = DivHiddenBear and phFound and oscHH and priceLH; plot BullDiv = if bullCond then 1 else 0; plot BearDiv = if bearCond then 1 else 0; plot hidBullDiv = if hiddenBullCond then 1 else 0; plot HidBearDiv = if hiddenBearCond then 1 else 0; } #---- Div def bullCond = DIV(divSrc,lbl,lbr,MaxLookback,MinLookback,DivBull, DivBear, DivHiddenBull, DivHiddenBear).BullDiv; def bearCond = DIV(divSrc,lbl,lbr,MaxLookback,MinLookback, DivBull, DivBear, DivHiddenBull, DivHiddenBear).BearDiv; def hiddenBullCond = DIV(divSrc,lbl,lbr,MaxLookback,MinLookback, DivBull, DivBear, DivHiddenBull, DivHiddenBear).hidBullDiv; def hiddenBearCond = DIV(divSrc,lbl,lbr,MaxLookback,MinLookback, DivBull, DivBear, DivHiddenBull, DivHiddenBear).HidBearDiv; #------ Bubbles addchartbubble(bullCond, low, Indicator, color.GREEN, no); addchartbubble(bearCond, high, Indicator, CreateColor(156,39,176), yes); addchartbubble(hiddenBullCond, low, Indicator, color.DARK_green, no); addchartbubble(hiddenBearCond, high, Indicator, color.DARK_red, yes); #---- Alerts Alert(alerts and bullCond, "Regular Bull Div", Alert.BAR, sound); Alert(alerts and bearCond, "Regular Bear Div", Alert.BAR, sound); Alert(alerts and hiddenBullCond, "Hidden Bull Div", Alert.BAR, sound); Alert(alerts and hiddenBearCond, "Hidden Bear Div", Alert.BAR, sound); #----End
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