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TMA Divergence Indicator Script For Trading View

This document contains the source code for a Pine Script indicator that identifies and plots divergences between price and an oscillator such as RSI. It checks for regular and hidden bullish and bearish divergences by comparing the relative highs and lows of price and the oscillator. Labels are plotted to identify locations that meet the divergence criteria.

Uploaded by

Krish Karaniya
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© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
1K views

TMA Divergence Indicator Script For Trading View

This document contains the source code for a Pine Script indicator that identifies and plots divergences between price and an oscillator such as RSI. It checks for regular and hidden bullish and bearish divergences by comparing the relative highs and lows of price and the oscillator. Labels are plotted to identify locations that meet the divergence criteria.

Uploaded by

Krish Karaniya
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.

0/
// © ArtyFXC
//@version=4
study(title="TMA - RSI Divergence Indicator", shorttitle= "TMA - RSI DIV", format=format.price)
len = 14
//input(title="RSI Period", minval=1, defval=14)
src = close
//input(title="RSI Source", defval=close)
lbR = 5
//input(title="Pivot Lookback Right", defval=5)
lbL = 5
//input(title="Pivot Lookback Left", defval=5)
rangeUpper = 60
//input(title="Max of Lookback Range", defval=60)
rangeLower = 5
//input(title="Min of Lookback Range", defval=5)
plotBull = input(title="Plot Bullish", defval=true)
plotHiddenBull = input(title="Plot Hidden Bullish", defval=true)
plotBear = input(title="Plot Bearish", defval=true)
plotHiddenBear = input(title="Plot Hidden Bearish", defval=true)
bearColor = color.red
bullColor = color.green
hiddenBullColor = color.new(color.green, 80)
hiddenBearColor = color.new(color.red, 80)
textColor = color.white
noneColor = color.new(color.white, 100)
osc = rsi(src, len)

// ### Smoothed MA

showSmma = input(title="Show Moving Average", type=input.bool, defval=true, group = "Smoothed MA")

smmaLen = 50
//input(50, minval=1, title="SMMA Length", group = "Smoothed MA")
smmaSrc = osc
smma = 0.0
smma := na(smma[1]) ? sma(smmaSrc, smmaLen) : (smma[1] * (smmaLen - 1) + smmaSrc) / smmaLen
plot(showSmma ? smma : na, linewidth=2, color=color.white)

// End ###

lineColor = (osc > smma) ?color.yellow : color.yellow

plot(osc, title="RSI", linewidth=2, color=lineColor)


hline(50, title="Middle Line", linestyle=hline.style_solid)
// obLevel = hline(70, title="Overbought", linestyle=hline.style_dotted)
// osLevel = hline(30, title="Oversold", linestyle=hline.style_dotted)
//fill(obLevel, osLevel, title="Background", color=#9915FF, transp=90)
plFound = na(pivotlow(osc, lbL, lbR)) ? false : true
phFound = na(pivothigh(osc, lbL, lbR)) ? false : true
_inRange(cond) =>
bars = barssince(cond == true)
rangeLower <= bars and bars <= rangeUpper

//------------------------------------------------------------------------------
// Regular Bullish
// Osc: Higher Low

oscHL = osc[lbR] > valuewhen(plFound, osc[lbR], 1) and _inRange(plFound[1])

// Price: Lower Low

priceLL = low[lbR] < valuewhen(plFound, low[lbR], 1)


bullCond = plotBull and priceLL and oscHL and plFound

plot(
plFound ? osc[lbR] : na,
offset=-lbR,
title="Regular Bullish",
linewidth=2,
color=(bullCond ? bullColor : noneColor),
transp=0
)

plotshape(
bullCond ? osc[lbR] : na,
offset=-lbR,
title="Regular Bullish Label",
text=" Bull ",
style=shape.labelup,
location=location.absolute,
color=bullColor,
textcolor=textColor,
transp=0
)

//------------------------------------------------------------------------------
// Hidden Bullish
// Osc: Lower Low

oscLL = osc[lbR] < valuewhen(plFound, osc[lbR], 1) and _inRange(plFound[1])

// Price: Higher Low

priceHL = low[lbR] > valuewhen(plFound, low[lbR], 1)


hiddenBullCond = plotHiddenBull and priceHL and oscLL and plFound
plot(
plFound ? osc[lbR] : na,
offset=-lbR,
title="Hidden Bullish",
linewidth=2,
color=(hiddenBullCond ? hiddenBullColor : noneColor),
transp=0
)

plotshape(
hiddenBullCond ? osc[lbR] : na,
offset=-lbR,
title="Hidden Bullish Label",
text=" H Bull ",
style=shape.labelup,
location=location.absolute,
color=bullColor,
textcolor=textColor,
transp=0
)

//------------------------------------------------------------------------------
// Regular Bearish
// Osc: Lower High

oscLH = osc[lbR] < valuewhen(phFound, osc[lbR], 1) and _inRange(phFound[1])

// Price: Higher High

priceHH = high[lbR] > valuewhen(phFound, high[lbR], 1)

bearCond = plotBear and priceHH and oscLH and phFound

plot(
phFound ? osc[lbR] : na,
offset=-lbR,
title="Regular Bearish",
linewidth=2,
color=(bearCond ? bearColor : noneColor),
transp=0
)

plotshape(
bearCond ? osc[lbR] : na,
offset=-lbR,
title="Regular Bearish Label",
text=" Bear ",
style=shape.labeldown,
location=location.absolute,
color=bearColor,
textcolor=textColor,
transp=0
)

//------------------------------------------------------------------------------
// Hidden Bearish
// Osc: Higher High

oscHH = osc[lbR] > valuewhen(phFound, osc[lbR], 1) and _inRange(phFound[1])

// Price: Lower High

priceLH = high[lbR] < valuewhen(phFound, high[lbR], 1)

hiddenBearCond = plotHiddenBear and priceLH and oscHH and phFound

plot(
phFound ? osc[lbR] : na,
offset=-lbR,
title="Hidden Bearish",
linewidth=2,
color=(hiddenBearCond ? hiddenBearColor : noneColor),
transp=0
)

plotshape(
hiddenBearCond ? osc[lbR] : na,
offset=-lbR,
title="Hidden Bearish Label",
text=" H Bear ",
style=shape.labeldown,
location=location.absolute,
color=bearColor,
textcolor=textColor,
transp=0
)

// ### Alerts

if bearCond
alert("Bearish Divergence")
else if hiddenBearCond
alert("Hidden Bearish Divergence")
else if bullCond
alert("Bullish Divergence")
else if hiddenBullCond
alert("Hidden Bullish Divergence")

// END ###

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