This is the Matrix oscillator made by glaz. So credit goes to him.
I made some minor modifications to it:
1. added a zeroline
2. added 3 options to color bars/candles depending on:
- if the oscillator is above/below 0
- if it's oversold/bought*
- if the matrix has a green bar or a red
That's all :)
Shows agreement or disagreement between the direction of the the price and the on-balance volume. When they disagree, the price is supposed to follow the OBV (or so they say.)
This is a MACD divergence on 3 time-frames, 1h, 4h and 1D.
Please insert the indicator into a 1h chart, otherwise change the lengths' inputs.
you will see H1,H2, H3, R1, R2 and R3 in green and maroon colors.
H means hidden divergence, 1 regards to 1h, 2 to 4h, and 3 to 1D. If the color is green, its bullish, and if its maroon the divergence is bearish.
Gray...
EXPERIMENTAL:
Bull and Bear power based on linear regression (this is a non lagging oscillator, the parameter are for the lookup window for the donchian extremes)
this indicator can also be used for convergence/divergence.
(accidentjev2) added multi timeframe support (indicator may repaint values)
EXPERIMENTAL:
Bull and Bear power based on linear regression (this is a non lagging oscillator, the parameter are for the lookup window for the donchian extremes)
this indicator can also be used for convergence/divergence.
Thank You Richard Santos!!!
This is a great indicator guys.Its good for measuring divergence in an objective way.
The idea is to measure the high to high and the low to low (stock vs. indicator) with the low to high and high to low (stock vs. indicator). This is the basis of divergence.
I love this one.
I would also add you can draw angles on the indicator...
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![EURUSD: [RS]Volume Divergence V0](https://s3.tradingview.com/s/sx80pCF4_mid.png "[RS]Volume Divergence V0")
![EURUSD: [RS]STOCH Divergence V0](https://s3.tradingview.com/g/G8fTC1Q0_mid.png "[RS]STOCH Divergence V0")
![EURUSD: [RS]MACD Divergence V0](https://s3.tradingview.com/3/3FevzoCJ_mid.png "[RS]MACD Divergence V0")
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