Divergence Solution Indicator

SETTING MANUAL

1/ What is the Divergence Solution indicator? 

Introduction: 

  • The Divergence Solution indicator for TradingView is built to spot key trend changes in the market.
  • It's easy to use on any market and for any time period, from minutes to months.

Benefits:

  • High-Probability Reversals: It excels in identifying divergences, which are often precursors to significant price reversals, providing traders with a competitive edge.
  • Market Adaptability: Whether in forex, stocks, or indices, the Divergence Solution performs consistently, offering valuable insights regardless of market conditions.
  • Strategic Trade Management: By offering clear stop loss and take profit suggestions, it empowers traders to manage their positions effectively and with confidence.
  • Customizable Alerts: Stay informed with real-time alerts for potential trades, fully customizable to fit your trading style and needs.
  • Intuitive Usability: With its user-friendly interface, the Divergence Solution indicator is an excellent addition to the arsenals of both novice and seasoned traders alike.


2.1/ Indicator Setting - Divergence Solution

TAKE PROFIT & STOP LOSS

  • Show TP/SL: Toggle to display or hide the Take Profit (TP) and Stop Loss (SL) levels on the chart.

MACD INPUTS

  • Fast Length: Set the number of periods for the fast moving average in the MACD.
  • Slow Length: Set the number of periods for the slow moving average in the MACD.
  • Source: Choose the price data (open, high, low, close,...) for MACD calculation.
  • Signal Smoothing: Adjust the smoothing factor for the MACD signal line.
  • Oscillator MA Type: Select the type of moving average for the main MACD line.
  • Signal Line MA Type: Choose the moving average type for the MACD signal line.

RSI INPUTS

  • RSI Length: Specify the period length for the Relative Strength Index (RSI).
  • Source: Select the price data for RSI calculations.
  • RSI Ob Level (Overbought): Set the overbought level for RSI.
  • RSI Os Level (Oversold): Define the oversold level for RSI.
  • RSI Filter: Enable or disable the RSI filter.

MA INPUTS

  • Slow EMA: Set the period for the slow Exponential Moving Average.
  • Fast EMA: Define the period for the fast Exponential Moving Average.

STRATEGY OPTIONS

  • EMA Fast > EMA Slow: Enable to act when the fast EMA is above the slow EMA.
  • Close > Both EMAs: Enable to act when the closing price is above both EMAs.

DIVERGENCE INPUTS

  • Pivot Lookback Right: Set the lookback period to the right for pivot points.
  • Pivot Lookback Left: Set the lookback period to the left for pivot points.
  • Max of Lookback Range: Set the maximum range for lookback.
  • Min of Lookback Range: Set the minimum range for lookback.

ATR

  • Length: Determine the period length for the Average True Range.
  • Smoothing: Adjust the smoothing factor for ATR.
  • ATR Reward: Set the reward multiplier for ATR.
  • ATR Risk: Define the risk multiplier for ATR.

DIVERGENCE PLOTS

  • Plot Bullish/Bearish/Hidden Bullish/Hidden Bearish: Enable to plot respective divergence types.

PLOT SETTINGS

  • TP/SL (auto, huge, large, normal, small, tiny): Adjust the display size of Take Profit (TP) and Stop Loss (SL) markers on your chart

PLOTS: Customize colors for TP and SL plot lines.

  • MACD Line: Set the color for the MACD line.
  • Signal Line: Set the color for the MACD signal line.
  • Above Grow/Fall: Modify colors for MACD line growth/fall above zero.
  • Below Grow/Fall: Modify colors for MACD line growth/fall below zero.

2.2/ Indicator Setting - Divergence Solution Panel

TAKE PROFIT & STOP LOSS

  • Show TP/SL: Toggle to display or hide the Take Profit (TP) and Stop Loss (SL) levels on the chart.

MACD INPUTS

  • Fast Length: Set the number of periods for the fast moving average in the MACD.
  • Slow Length: Set the number of periods for the slow moving average in the MACD.
  • Source: Choose the price data (open, high, low, close,...) for MACD calculation.
  • Signal Smoothing: Adjust the smoothing factor for the MACD signal line.
  • Oscillator MA Type: Select the type of moving average for the main MACD line.
  • Signal Line MA Type: Choose the moving average type for the MACD signal line.

RSI INPUTS

  • RSI Length: Specify the period length for the Relative Strength Index (RSI).
  • Source: Select the price data for RSI calculations.
  • RSI Ob Level (Overbought): Set the overbought level for RSI.
  • RSI Os Level (Oversold): Define the oversold level for RSI.
  • RSI Filter: Enable or disable the RSI filter.

MA INPUTS

  • Slow EMA: Set the period for the slow Exponential Moving Average.
  • Fast EMA: Define the period for the fast Exponential Moving Average.

STRATEGY OPTIONS

  • EMA Fast > EMA Slow: Enable to act when the fast EMA is above the slow EMA.
  • Close > Both EMAs: Enable to act when the closing price is above both EMAs.

DIVERGENCE INPUTS

  • Pivot Lookback Right: Set the lookback period to the right for pivot points.
  • Pivot Lookback Left: Set the lookback period to the left for pivot points.
  • Max of Lookback Range: Set the maximum range for lookback.
  • Min of Lookback Range: Set the minimum range for lookback.

ATR

  • Length: Determine the period length for the Average True Range.
  • Smoothing: Adjust the smoothing factor for ATR.
  • ATR Reward: Set the reward multiplier for ATR.
  • ATR Risk: Define the risk multiplier for ATR.

DIVERGENCE PLOTS

  • Plot Bullish/Bearish/Hidden Bullish/Hidden Bearish: Enable to plot respective divergence types.

PLOT SETTINGS

  • TP/SL (auto, huge, large, normal, small, tiny): Adjust the display size of Take Profit (TP) and Stop Loss (SL) markers on your chart

PLOTS: Customize colors for TP and SL plot lines.

  • MACD Line: Set the color for the MACD line.
  • Signal Line: Set the color for the MACD signal line.
  • Above Grow/Fall: Modify colors for MACD line growth/fall above zero.
  • Below Grow/Fall: Modify colors for MACD line growth/fall below zero.

  • How can I set up alerts?

To stay updated on potential trading opportunities, you can set up alerts within the Divergence Solution Panel.

Step 1: From the indicator settings, customize your alerts by defining your desired parameters. The selected configurations will be used for notifications in Step 2.

Step 2: To receive notifications through the app, pop-ups, alert emails, Webhook URL, sound alerts, or email-to-SMS, enable these features by clicking on TradingView's “Alert” icon.

Step 3: Select Divergence Solution Panel from the “Condition” dropdown list:

Step 4: A pop-up will appear as follows. You click on “Notifications”.

Choose one divergence type to trigger the alert: Bearish Divergence, Bullish Divergence, Hidden Bearish Divergence, and Hidden Bullish Divergence. Please note that you can set the indicator to receive alerts for one divergence type only.

Step 5: You choose the types of notifications you'd like to receive and click the “Create” button.