How to use Oscillator Divergences .
Oscillator Divergences are powerful tools that traders use to assess the underlying momentum in the price of an asset, and for evaluating the likelihood of a price reversal.
A negative divergence is when the price makes a new high but the oscillator analyzed makes a lower high, while a positive divergence occurs when the price of an asset makes a new low while an oscillator, starts to climb.
This script provides the 9 most used Oscillators and their respective Divergences ( RSI, Stochastic RSI, Stochastic, Williams%, MFI, ChangeMO, CCI, BB %B, WaveTrend)
The lookback period of the divergences is also fully configurable, as the settings for each of our individual oscillators.
After the user selects from the first input the desired oscillator, the indicator can display Regular or Hidden Divergences on the chart.
*The indicator also includes a smoothing option, that can be turned on and off, which allows users to smoothen the displayed oscillator, for a better visual representation of the Divergences or Overbought/Oversold scenarios.