I figured out a way to combine all my divergence indicators into one single study. The new Multi-divergence script uses slopes of linear regression lines just like in the new MACD divergence indicator. This script supersedes all the other divergence scripts. The difference is now it can perform a regression on any one study of your choice from a list of ToS indicators. The indicators currently supported for divergence analysis are:
MACD, RSI, CCI, Momentum, Moneyflow, On Balance Volume, Rate of Change, Stochastic Momentum Index, Ultimate Oscillator, Volume Flow Indicator, Volume Oscillator, Volume Rate of Change, Volume-Weighted MACD, Williams Percent-R, and Woodie’s CCI
(Note that it doesn’t scan all of these for divergence at once. Just the one indicator you select. If you want to have RSI and MACD at the same time for example, you put the script on your chart twice and select the appropriate indicator for each one separately.)
If there is another built-in ToS indicator you want to have available for divergence analysis, let me know and I can add it in future updates. You can use the Multi-divergence indicator on real time charts and in scans of watch lists, and I put in alert logic so it can ping you when a divergence occurs.
This indicator is for blog donors only. You can find it on my google site under Released Thinkscript Studies down in the Donors Only section. If you already donated in the past you can use your password to access it. If you want to become a donor (or throw me some more coin) you can do so by clicking the Donate button:
As always, if you are a DIY’er, feel free to ask questions in the comments and I’ll help answer.
Tags: cci, divergence, macd, regression, RSI
January 15, 2015 at 2:29 am
[…] This indicator has been updated! See the new post here. […]
January 15, 2015 at 2:30 am
[…] This indicator has been updated! See the new post here. […]
January 15, 2015 at 2:33 am
[…] This indicator has been updated! See the new post here. […]
February 14, 2015 at 6:20 pm
Hello Prospectus!
Long time no talk, but I remember you from iBC blog days.
I have some questions I would love to ask you, and was hoping you could reply via email so we could set up a time to chat.
Thanks and look forward to talking,
Danny
February 16, 2015 at 11:08 pm
Prospectus,
Need your inputs / clarification on this :
On Intraday chart, I have the Sell arrow ( as well as buy arrow) painted a few bars earlier – disappear if conditions change:
The arrow is painted as
SellArw.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
The arrow is based on close < open and Moving average.
If the close is above open, all the earlier arrows in the intraday disappear.
How can I make sure that the arrow once painted remains in tact on the intraday chart ?
thanks for the clarification and help.
Ramesh
February 17, 2015 at 7:52 am
Send me your code and I’ll take a look: readtheprospectus at gmail
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April 27, 2015 at 10:32 am
Hi Prospectus,
I have some questions regarding some data that I would like to have coded. Please email me, so that we can discuss if it is possible and if so, what is your fee? Thank you.
August 4, 2015 at 12:47 pm
I cannot extract this study. How do I extract this study? It comes up in windows media player.
August 4, 2015 at 1:21 pm
You can open the .ts file with any text editor, or you can import it into ToS directly, following this guide:
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November 14, 2015 at 11:02 pm
I would like to get the file called Multi-Divergence Indicator for Think or Swim: MACD, RSI, CCI, On Balance Volume and many more
However I don’t know how to get Correspondence from you on making a donation and getting a password for the file
My email is (the1stoven@yahoo.com) I’m interested in the Divergence Script as well as the audible Alert code you mentioned.
I would love to hear from you.
Cee
December 25, 2015 at 2:38 pm
Greetings Prospectus. I have just loaded up your Multi-Divergence Indicator for Think or Swim. I added a single indicator (CCI) and selected that in your drop down list. While looking at a chart there are so many arrows. Could you explain what the different arrows indicate? Some are small, some bigger. Do all the arrows only apply to the selected indicator? Do I need to turn something off? Thanks, your help is appreciated. Thanks for all your great work!
December 26, 2015 at 10:41 am
These all apply to the same one indicator you selected. The bigger arrows show a long term divergence, while the smaller arrows show a short term divergence. The up arrows are bullish divergence, and down arrows are bearish divergence. If you don’t want to use two different time frames then you can hide one of them, or set them to the same number. You can also change the plotted symbol to a dot if you don’t want arrows.
April 19, 2016 at 12:32 am
I have donated but did not receive a password for the Multi-Divergence Indicator.
My email is n8santana@hotmail.com
Thanks
April 19, 2016 at 6:09 am
I just sent it to you. Thanks for supporting the site!
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April 28, 2016 at 9:19 am
Prospectus,
Do you also create custom alerts for non-coders such as myself, or could you refer someone. In Forex I would like to receive an email alert whenever two specified EMAs crossed over – by a specified amount of pips or greater. Ideally this would happen as it occurred – prior to that candle being completed. Would want to use the alert on multiple pairs simultaneously. Is this Possible?
May 2, 2016 at 3:58 pm
It might be possible. I haven’t had time to look into it though.
June 12, 2016 at 7:12 pm
Thank you very much. I just followed you on Twitter. What I have read so far has proved to be very very helpful for a newbie like me, trying to make life easier with my own trading… I wonder if one can build on your MACrossover_w_alerts and create an alert for a coiling pattern? or even scan for one?
June 26, 2016 at 9:40 am
Hello,
I just gave a donation but didn’t receive a password – perhaps it will arrive soon. Can’t wait to try it out.
June 26, 2016 at 12:45 pm
Please let me know the password.
Thanks
June 26, 2016 at 7:00 pm
Just sent it to you
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July 8, 2016 at 1:52 am
Hi Prospectus,
I just donated, downloaded and installed your indicator. I get a notification window pop-up top left telling me a signal has been detected – but no arrows appear. nothing changes on the chart at all for some reason. Show studies is selected.
July 8, 2016 at 8:58 am
Is it still not working after market open?
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July 8, 2016 at 9:51 am
Hello,
Since market opened, same result – no arrows
July 8, 2016 at 2:38 pm
I’m on the road today and tomorrow but I can look at it on Sunday. Send me a screenshot of what you are looking at.
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July 10, 2016 at 5:56 am
Hello,
I can send screenshot tomorrow when markets are open.
July 10, 2016 at 10:22 pm
https://gyazo.com/68e6ae22adf586b3f329cc59963c72d5
July 10, 2016 at 11:28 pm
https://gyazo.com/9a2c90b2a8508e49750410f951e7ffc1
Its applied to the 4H, 1H, 15M, 5M and 1 M charts (EUR/USD)
July 10, 2016 at 11:29 pm
Are you running it in thermo mode? That may be an issue
July 10, 2016 at 11:46 pm
It is not running in thermo Mode
July 10, 2016 at 11:48 pm
Ok, I’ll try to reproduce tomorrow. It’s working fine on my mobile trader app for those symbols.
July 14, 2016 at 11:26 pm
Hi Prospectus, did you manage to reproduce the issue I’m having?
September 13, 2016 at 7:33 pm
[…] my Multi-Divergence indicator, there is logic used that breaks the study filter when you try to use it in a scan. So I […]
October 22, 2016 at 12:01 am
I just made a donation, please send me the password.
February 1, 2017 at 3:31 pm
I tried the divergence using MACD, CCI and RSI but I am getting too many false signals!
Any way that the signal quality could be improved?
February 1, 2017 at 4:03 pm
The divergence isn’t an entry signal. It’s only an indicator of a certain condition being present (I.e. The divergence of MACD and price). Not every divergence leads to a reversal. Some divergences resolve back in the direction of the trend. You need to have some other criteria that you define to enter a trade. I just use it to give me context on the chart. I don’t buy or sell based on it alone.
That said, I’m going to change the divergence indicator output from a single arrow to a numeric value. Then you could see if a divergence is large or small which would probably be more helpful. You’d still need some criteria to decide when to actually enter a trade.
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February 1, 2017 at 4:09 pm
Thats a good idea! I didnt think about the degree of divergence. Is the parameter present in the script so I can tinker with it? What values would you regard as extremely high divergence?..Thanks!
February 6, 2017 at 8:04 pm
do you have a youtube video on how this indicator works? I am using macd for part of my strategy and would be very interested in seeing how this would function. thanks
February 16, 2017 at 6:32 pm
[…] in a simple and repeatable way. I have said before that divergence indicators (like my own Multidivergence Indicator) are not good trade signals by themselves. What they are good for is context. You will still […]
April 9, 2017 at 10:01 pm
I have donated and haven’t received a password for the Multi-Divergence Indicator.
April 9, 2017 at 10:08 pm
Check your email. Just sent it
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April 9, 2017 at 10:26 pm
Thanks received it.
July 9, 2017 at 11:45 am
Hi there …I Definitely want your Multi Divergence Indicator. Please send me a note where I can donate. hftbytes@gmail.com
July 9, 2017 at 1:03 pm
Sent you an email
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October 2, 2017 at 9:44 am
I am not seeing arrows – I see a histogram? How do I use the multi divergence indicator? Plot them over each other as lower studies? The up/down lines overlap quite a bit …
October 20, 2017 at 3:42 pm
[…] made an update to the Multi-Divergence indicator. No more arrows! It’s now a lower histogram that gives you a picture of whether the […]
November 6, 2017 at 9:02 pm
Hi I donated so I can try the Multi Divergence indicator. when do i receive the password?
Thanks!
November 6, 2017 at 9:03 pm
Sent you email
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November 6, 2017 at 9:04 pm
Hi I donated so I can try the Multi Divergence indicator. when do i receive the password? (added same email here as the paypal one just to verify)
Thanks!
November 6, 2017 at 9:07 pm
Thank you! does it work in ‘After Hours’ sessions? I ask as i saw you discussing “after market open” with another donor in the posts above where he’s having a issue with it.
November 6, 2017 at 9:08 pm
Yes, but sparse data can make indicators go weird. You just have to see how it goes on a case by case basis.
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November 7, 2017 at 5:33 pm
I like the script so far but I am having an issue. When I save my study set, save the style (incl sets and pattern) then also save the workspace…basically saving everywhere I can…once I close and reopen ToS I lose that study and have to re-import every time. How can i get it to stay with my study set?
Thanks for your help!
November 7, 2017 at 5:42 pm
That’s weird. I’ve never had that happen. Did you use the import function to get it into think or swim or copy/paste the code into a new study on your own?
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November 7, 2017 at 5:43 pm
yeah I thought it was strange too. yes, I used the import function to add it to the list
November 7, 2017 at 6:09 pm
Try copying the code and pasting into a new study you create yourself and see if that sticks.
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November 7, 2017 at 8:43 pm
Just tried it. Still no luck.
November 7, 2017 at 9:17 pm
I’d contact the TOS support people, maybe reinstall the app.
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November 7, 2017 at 10:12 pm
Thanks for the advice. I tried a fresh install and it’s still not saving the study so will contact TOS. I’ll inform you of the outcome. Thanks!
November 8, 2017 at 1:42 am
TOS support helped fix it. Would you believe it all came down to my logging in to the app with a capital letter at the beginning of my Username! Once I was logged in using all small caps the custom study was there! Interesting little bug! Thanks again for your help with this too.
November 8, 2017 at 7:44 am
Thanks for reporting back!
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November 15, 2017 at 2:16 pm
Hi, How canI set an alert for times when we are getting a divergence on this indicator? BTW, really liking this so far in demo. thank you for your help
November 15, 2017 at 4:07 pm
An alert for when it happens on a chart, or a scan for candidates in a watchlist of stocks?
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November 15, 2017 at 5:10 pm
Just on a chart occurrence. I tried using the wizard but it was a little confusing
March 10, 2018 at 12:34 pm
I just donated, looking forward to getting the password and trying out the indicator.
March 10, 2018 at 1:03 pm
Just sent email. Thank you for your support!
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March 11, 2018 at 2:21 am
I just made a donation, please send me the password.
March 11, 2018 at 3:10 am
Sent you email
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April 12, 2018 at 2:58 pm
Hi Prospectus, this is really a great indicator with lots of posibilities. The only thing is that I coul not have it working for Forex. Any tipon this?
September 5, 2018 at 3:18 am
Hi. Just donated. can’t wait to try this out.
Please send me the password.
Thanks.
April 7, 2020 at 8:52 pm
I have donated and I would like to receive a password for the Multi-Divergence Indicator.
April 7, 2020 at 10:46 pm
Check your email
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May 31, 2020 at 10:56 pm
Hello, do you have CCI divergence scan in TOS?
June 1, 2020 at 5:31 am
Yes, check this page out. Scan instructions at the bottom:
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April 3, 2021 at 2:48 pm
I just donated, may I get a PW. email is: Jraharris89@gmail.com
Is this the most up to date version you’ve made?
April 3, 2021 at 7:13 pm
So i tried setting up a scanner that looks for divergences in RSI and MACD:
Pro_MultiDivergence_v2().”bulldiv” is greater than or equal to 30 and Pro_MultiDivergence_v2(“study” = “RSI”).”bulldiv” is greater than or equal to 30
and I’m getting an error that says:
“The complexity of the expression suggests that it may not be reliable with real-time data.”
Is there anyway around this, is it even possible to scan for both?
February 23, 2022 at 1:12 am
just donated it. can I have the PW? my email is kloveada13@gmail.com
thank you
February 23, 2022 at 9:32 am
Sent, check email
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