Blimey. As if you would spend $1500 for a divergence indicator, (and a load of other stuff you don't want).
Those pictures showing bearish divergence could be got just as well from using the RSI which you mentioned "Like macd or rsi".
All oscillators are basically going to be the same workings anyway and I bet in the longterm they generally have the same sort of consistency. One setting could be better one day than another and vice versa but anybody you find promoting a "winning divergence indicator", "better divergence indicator" etc is just going to be some shyster anyway.
I would suggest just picking one of those common well regarded basic oscillators, add it to your chart and watch it and look for patterns you see repeating, then come up with a strategy from that and get on with it.
Just a thought, but trying to find a better/best indicator is a never ending quest and largely a waste of time. IMHO
Trading, ideally structured, is a vehicle for expanding consciousness, not damaging it. - Brett Steenbarger
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The concept of coloring bars is nothing new and everyone does it for certain filters. However, the idea for using gradient color bars to spot price divergence may not be new, but has gone un-noticed by many.
The fact that …
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Funnily enough that you should ask this question. Try this one. Its free here. I just found this a few days ago by accident when I was looking for a different indicator.
Please remove old version before installing this one.
Current version is V7
This indicator tries to detect price/indicator divergence.
Any indicator in Ninja can be used and detection is possible on historical and real time charts.
To set the …
Enter any indicator in the input series and it'll pull divers on any price to indicator you like. Divers will only paint as price plays out live...or in sim.
so far a really good one I've found to enter in input series is Oscillator, Fisher transform...another free one here.
I'm going to test it next with CumDelta indicators. Several good free ones here.
Wow, you can have these for free here in this community or pay up $1500 a piece like the other person posted. $4500 or free? I choose free! Be free!
Divergent indicators are a little subjective for me , i much prefer boolean/binary type decisions . Maybe its just me but i see divergence as a type of confusion , a grey area if you like . For me not helpful in making decisions , i mean whats right , price or the oscillator . So for me the there is no best divergent indi . Just saying
my favorite divergence is a delta divergence. but only when a few other conditions are met as well.
here's an example of a delta divergence pulling back to an earlier established volume imbalance. also the location (2nd lower sd band of vwap) is favorable. especially in a range kind of market.
of course it can be used under other conditions as well, just not by itself alone.
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it depends on what time frame and what your trading. there is no shortage of them. in general terms you want to see multi-time frame and cross market divergences at the same time. just a divergence on a 5 min. ES chart does not mean that much. you will need to play with a few to find the correct one/ hope it helps
Coolest(?) feature is the addition on NinjaTrader of an expression evaluator called Flee, that allows users to build their own indicator values or trading signals …
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