OPEN-SOURCE SCRIPT
Updated EMA Divergence
This script automatically calculates the divergence between your favorite exponential moving average and the current price (13 ema default).
Additionally, it displays the area in yellow once the first threshold gets reached (1.5% divergence default) and in red once the second threshold gets reached (1.5% divergence default).
Additionally, it displays the area in yellow once the first threshold gets reached (1.5% divergence default) and in red once the second threshold gets reached (1.5% divergence default).
Release Notes
Added the $ value instead of the percentage into the visual pane (now default value) and version with absolute values (now default) doesn't plot the negative bands.Release Notes
Default mode back to percentage. First threshold default to 1.5% and second to 2.75% divergence. Release Notes
Added a "Pullback Mode" where the maximum divergence among the 13ema on the 3mins, 13ema on the 10mins and VWAP will be displayed. There are two thresholds that help identify the divergence, so that yellow and red colors would help the trader understanding the percentage of divergence at a glance.Release Notes
Bug fixingOpen-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.