ThinkScripter - Custom ThinkScript Indicators for thinkorswim » divergence http://www.thinkscripter.com Custom ThinkScript Indicator Scripts for thinkorswim Mon, 28 Jun 2010 02:18:58 +0000 en hourly 1 http://wordpress.org/?v=3.0 Stochastic Momentum Index with Divergence Signals http://www.thinkscripter.com/2010/02/01/stochastic-momentum-index-with-divergence-signals/ http://www.thinkscripter.com/2010/02/01/stochastic-momentum-index-with-divergence-signals/#comments Tue, 02 Feb 2010 01:32:49 +0000 ThinkScripter http://www.thinkscripter.com/?p=1950 I’ve taken the TOS Stochastic Momentum Index, a fast oscillator adept at showing divergences, and added a little twist. Each time the indicator makes a top or bottom and a regular divergence (trend reversal) is detected, an arrow is added indicating the direction of the divergence. The red arrows indicate negative divergence and green positive. Hidden divergences (continuation signals) are plotted in white. Also pictured is a custom variation of the Volume Profile allowing expanded fidelity by stacking numerous copies of the indicator. A keen eye will also reveal my incarnation of a support and resistance indicator based on sine wave cycles which is under development. Both studies will be included in next weekend’s Pro Subscriber update.

Stochastic Momentum Index with Divergence

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