SMT divergences

21 мар.

An extension from my Liquidity Raids indicator work, this indicator is a way to approach SMT divergences occurring on your pair against a configured pair i.e., when a bullish or bearish raid occurs (i.e., low or high gets taken) in the correlated asset and it doesn't occur in the current asset or vice versa, the indicator plots it on the chart.

In the above example, you can see SMT divergences between US100 and US500.

The following features are supported:

• SMT plotted on pairs
  
• Alerts to get notified when such SMTs occur.
  
• Inversion of SMTs supported (for e.g., when you want SMT from DXY to be plotted on EU)
  
• Minimum pips filter required for raids to trigger SMT (plot or alert)
  

NOTE: It's cleanest and advisable when it's used on the same timeframe as the chart. While switching timeframe works, the timeframe in the indicator must be equal or higher than the current timeframe, however it won't be accurate and I don't want to put in further efforts for a free-to-use indicator :)