OPEN-SOURCE SCRIPT
Updated Combined and Count of Bull Bear Alerts for OBV, TDI, CCI, MACD
Combined and Count of Bull Bear Alerts for OBV, TDI, CCI, MACD
Description
This powerful indicator combines four popular technical analysis tools (On-Balance Volume, Traders Dynamic Index, Commodity Channel Index, and MACD) into a single comprehensive divergence detection system. It monitors all four indicators simultaneously and provides real-time alerts when bullish or bearish divergences occur across multiple indicators, helping traders identify high-probability reversal opportunities.
Key Features
Multi-Indicator Divergence Detection: Simultaneously tracks divergences in OBV, TDI, CCI, and MACD
Comprehensive Signal Counting: Displays real-time count of bullish (1-4) and bearish (1-4) divergences
Four Customizable Alert Conditions:
Alert 1: 1-4 indicators showing bullish divergence
Alert 2: 3-4 indicators showing strong bullish divergence
Alert 3: 1-2 indicators showing bearish divergence
Alert 4: 3-4 indicators showing strong bearish divergence
Visual Signal Display: Clear numerical indicators showing how many tools are signaling divergence
Customizable Parameters: Adjustable settings for each indicator's sensitivity and display preferences
Overlay Display: All signals shown directly on the price chart for easy analysis
How It Works
The indicator continuously monitors each technical tool for both regular and hidden divergences using pivot point analysis. When a divergence pattern is detected, it increments the appropriate counter (bullish or bearish). The system then displays the total count as colored numbers on the chart and can trigger alerts based on your preferred signal strength thresholds.
Trading Applications
Strong Reversal Signals: Look for 3-4 indicator confirmations for high-probability trades
Early Trend Detection: Use 1-2 indicator signals for early entry opportunities
Confirmation Tool: Validate your trading signals with multi-indicator divergence confirmation
Risk Management: Avoid trading against multiple indicator divergences
Customization Options
Adjustable lookback periods for each indicator
Toggle visibility of bullish/bearish counters
Customizable colors, positions, and display styles
Option to show individual indicator signals
Configurable divergence detection parameters
This indicator is particularly valuable for traders who want to combine multiple technical analysis approaches into a single, easy-to-monitor system that highlights confluence opportunities across different market perspectives (volume, momentum, cycle, and trend).
Description
This powerful indicator combines four popular technical analysis tools (On-Balance Volume, Traders Dynamic Index, Commodity Channel Index, and MACD) into a single comprehensive divergence detection system. It monitors all four indicators simultaneously and provides real-time alerts when bullish or bearish divergences occur across multiple indicators, helping traders identify high-probability reversal opportunities.
Key Features
Multi-Indicator Divergence Detection: Simultaneously tracks divergences in OBV, TDI, CCI, and MACD
Comprehensive Signal Counting: Displays real-time count of bullish (1-4) and bearish (1-4) divergences
Four Customizable Alert Conditions:
Alert 1: 1-4 indicators showing bullish divergence
Alert 2: 3-4 indicators showing strong bullish divergence
Alert 3: 1-2 indicators showing bearish divergence
Alert 4: 3-4 indicators showing strong bearish divergence
Visual Signal Display: Clear numerical indicators showing how many tools are signaling divergence
Customizable Parameters: Adjustable settings for each indicator's sensitivity and display preferences
Overlay Display: All signals shown directly on the price chart for easy analysis
How It Works
The indicator continuously monitors each technical tool for both regular and hidden divergences using pivot point analysis. When a divergence pattern is detected, it increments the appropriate counter (bullish or bearish). The system then displays the total count as colored numbers on the chart and can trigger alerts based on your preferred signal strength thresholds.
Trading Applications
Strong Reversal Signals: Look for 3-4 indicator confirmations for high-probability trades
Early Trend Detection: Use 1-2 indicator signals for early entry opportunities
Confirmation Tool: Validate your trading signals with multi-indicator divergence confirmation
Risk Management: Avoid trading against multiple indicator divergences
Customization Options
Adjustable lookback periods for each indicator
Toggle visibility of bullish/bearish counters
Customizable colors, positions, and display styles
Option to show individual indicator signals
Configurable divergence detection parameters
This indicator is particularly valuable for traders who want to combine multiple technical analysis approaches into a single, easy-to-monitor system that highlights confluence opportunities across different market perspectives (volume, momentum, cycle, and trend).
Release Notes
Combined and Count of Bull Bear Alerts for OBV, TDI, CCI, MACDDescription
This powerful indicator combines four popular technical analysis tools (On-Balance Volume, Traders Dynamic Index, Commodity Channel Index, and MACD) into a single comprehensive divergence detection system. It monitors all four indicators simultaneously and provides real-time alerts when bullish or bearish divergences occur across multiple indicators, helping traders identify high-probability reversal opportunities.
Key Features
Multi-Indicator Divergence Detection: Simultaneously tracks divergences in OBV, TDI, CCI, and MACD
Comprehensive Signal Counting: Displays real-time count of bullish (1-4) and bearish (1-4) divergences
Four Customizable Alert Conditions:
Alert 1: 1-4 indicators showing bullish divergence
Alert 2: 3-4 indicators showing strong bullish divergence
Alert 3: 1-2 indicators showing bearish divergence
Alert 4: 3-4 indicators showing strong bearish divergence
Visual Signal Display: Clear numerical indicators showing how many tools are signaling divergence
Customizable Parameters: Adjustable settings for each indicator's sensitivity and display preferences
Overlay Display: All signals shown directly on the price chart for easy analysis
How It Works
The indicator continuously monitors each technical tool for both regular and hidden divergences using pivot point analysis. When a divergence pattern is detected, it increments the appropriate counter (bullish or bearish). The system then displays the total count as colored numbers on the chart and can trigger alerts based on your preferred signal strength thresholds.
Trading Applications
Strong Reversal Signals: Look for 3-4 indicator confirmations for high-probability trades
Early Trend Detection: Use 1-2 indicator signals for early entry opportunities
Confirmation Tool: Validate your trading signals with multi-indicator divergence confirmation
Risk Management: Avoid trading against multiple indicator divergences
Customization Options
Adjustable lookback periods for each indicator
Toggle visibility of bullish/bearish counters
Customizable colors, positions, and display styles
Option to show individual indicator signals
Configurable divergence detection parameters
This indicator is particularly valuable for traders who want to combine multiple technical analysis approaches into a single, easy-to-monitor system that highlights confluence opportunities across different market perspectives (volume, momentum, cycle, and trend).
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.
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.