ThinkScripter » divergence http://www.thinkscripter.com thinkScript Indicators for thinkorswim Sun, 29 Jan 2012 16:11:22 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Value Chart Divergence http://www.thinkscripter.com/indicator/value-chart-divergence/ http://www.thinkscripter.com/indicator/value-chart-divergence/#comments Mon, 18 Oct 2010 22:07:36 +0000 ThinkScripter http://www.thinkscripter.com/?p=3057 Continue reading →]]> Some time ago one of our Pro Members asked me to code an indicator which displayed signals when divergences of price action from the Value Chart occur. This indicator is the result. Today’s e-mini action is shown as an example below. Though I would not use this alone as a trading signal, it provides an excellent confirmation of price reversals. The notable breakdowns of the signal occur with rapid, breakout/breakdown events as divergence is overcome by momentum. (This indicator will be added to next weekend’s Pro Member update)

Value Chart Divergence

]]> http://www.thinkscripter.com/indicator/value-chart-divergence/feed/ 8 Stochastic Momentum Index with Divergence Signals http://www.thinkscripter.com/indicator/stochastic-momentum-index-with-divergence-signals/ http://www.thinkscripter.com/indicator/stochastic-momentum-index-with-divergence-signals/#comments Tue, 02 Feb 2010 01:32:49 +0000 ThinkScripter http://www.thinkscripter.com/?p=1950 Continue reading →]]> 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.

SMI with Divergence

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