OPEN-SOURCE SCRIPT
STY-Divergence
draws a blue line representing the divergence between a 3-period moving average (3MA) close and the current candle high, and a red line representing the divergence between a 20-period moving average (20MA) close and the 3MA close
This script calculates the moving averages for both 3-period and 20-period and then computes the divergences as described. It plots the lines with blue color if the divergence is positive and red if negative. Adjust the length of moving averages or other parameters according to your preference.
This script calculates the moving averages for both 3-period and 20-period and then computes the divergences as described. It plots the lines with blue color if the divergence is positive and red if negative. Adjust the length of moving averages or other parameters according to your preference.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.