Market Divergence (Line version) ©MBYLAB

16 июн. 2021 г.Good morning.

This indicator measures the distance between the moving average line and the current price position, so you can check the price divergence.


logic

In general, when the closing price breaks below the moving average and closes, it can be interpreted as downward divergence.
Based on the logic described above, this indicator will have a darker color as the current price position is further away from the set moving average.

When this indicator starts changing from red to yellow, it can be interpreted that the trend is reversing.(Bearish -> Bullish)


How to use

First, set the existing candle chart in the upper left to invisible and then apply the corresponding indicator.


Anyone can use this indicator, no special conditions are required.