Wave59 Technologies

I've been experimenting with a combination of the CCI momentum indicator, adaptive zones, and a divergence detection routine. Pretty happy with the results. I uploaded the script to the library.

thanks for this script
i was looking for divergence for a long time.
sir i am trying to code same indicator with %R (smoothed by EMA) instead of CCI, if you have some time can you please write this code.

can you also tell us how are you using divergence for trading( means divergence only gives setup pattern, what about triggered/entry, & exit )


Thanks
rlygangesh@gmail.com

Hi rlygangesh, I'll try to look into that type of modification soon, perhaps a bit later this week.

The divergences are not sufficient to use as trading signals in isolation. You need to have a set of other conditions in mind that you would want to see in conjunction with the divergences. For example, if a market is rangebound, and your chart and divergence detector are tuned to a time frame that fits with the moves across the range, you can use the divergences to fade the edges of the range. The set of factors you'd want to use in a trending market would be different.