Please note: the Triple Divergence is very different from regular divergence indicator, it's designed for EXPERIENCED user only.
If you want more signals then you may want WilliamsR regular divergence indicator instead of this one.
This is a 1-Year license. There is no auto renew. Please check how to renew license .
Divergence is very common and useful in technical analysis. It indicates possible reversal signals when there are discrepancies between WilliamsR and price movement.
The definition of divergence is when price and indicator move in different direction，for instance, when price is in uptrend and reaches a higher high where the indicator is in downtrend.
Update Notes: new features and inputs are added.
The chart below is when "wait 1 bar" disabled.
The same chart below is with "wait 1 bar" enabled.
The "wait 1 bar" feature will be able to filter out unnecessary signals before the price trend direction reverse.
By using different swing length, the divergence indicator will be able to detect from short trend to long trend divergence signals.(please check this page for more info about what is swing point, swing high and swing low.)
The chart below used swing length=12, it's a relatively midterm setting based on number of bars on the chart, not based on time or date range. If it's a daily chart, the span will be around 3 months (80 to 90 bars).
The same chart below used swing length=5, it's a relatively short term setting.
The chart below is the extension of the chart above, but we used different SwingLength input, therefore, the signals are different.
Update Notes: added hidden divergence type.This video shows how it works in real time.
A hidden divergence is where price has a higher LOW, but the indicator has a relative lower value, as shown in the pic below.
There will be a 'H' drawn under a hidden bullish divergence.
A 'R' drawn under a regular bullish divergence.
There will be a 'H' drawn under a hidden bearish divergence.
A 'R' drawn under a regular bearish divergence.
What is WilliamsR Triple Divergence?
The concept of triple divergence is intuitional, if there are three continuous divergences in a row between current High and previous Peak, then it will trigger a signal.
More signals are not necessary a bad thing, but a signal (Triple Divergence) is confirmed via short, mid and long terms could be more solid.
It doesn't necessarily mean the Triple Divergence is definitely better than the normal version, they detect signals from different angles.
Please note that the number of signals is not controlled by this indicator, since it doesn't have the power to influence the market.
There is no guaranty how many signals you will see in a certain period of time. If it concerns you, please purchase the 1-month trial first.
There are two signals plot, one for bullish signal and one for bearish signal which you can use from strategy and market analyzer.
Instant signal on current(last) bar, no repaint.
Alert when a signal appears.
Select different sound alert files.
Enable to show lines between Highs and Lows.
Please note: it doesn't work in Renko chart.
Market Analyzer with alert.
Enhanced mode will check if all three divergence are consistent
Works in all timeframes.
Wait 1 bar, when you enable this mode, it will only plot the divergence signal if the price direction changed on the next bar. Calculate mode must be: OnBarClose
You can add new sound files to your NT8\sounds directory.
It also comes with a Market Analyzer which makes it possible to track signals within any timeframe. The input "Range" is used to check if there was a signal within the given number of bars.
You can add more than one column as different timeframes with different settings.
Why Triple Divergence? Is it better than normal divergence?
I have seen many divergence indicators on different platforms, but they only check the divergence in one of the three terms, short-term, midterm or long-term. The regular divergence indicator will not exam all three terms at the same time, but Triple Divergence is capable of completing the task.
Sometimes there are too many divergences appear in a short range for the normal divergence indicator.
Click an image to view at full size.
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