Help: Building a Delta Divergence Indicator

• 03/26/2024 at 2:41 PM #230497
  Metodi97

  Hi everyone,

  I have a delta indicator and an RSI divergence indicator that show divergences in different ways. I’d like to build a new indicator that combines these functionalities. Ideally, the new indicator would display labels directly on the price chart for both regular and hidden delta divergences.

  Has anyone created a similar indicator before? Any guidance or code snippets would be greatly appreciated!

  

  Metodi97

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  03/26/2024 at 3:01 PM #230500
  robertogozzi

  If you post their code I can try to combine them.

   

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  Metodi97

  

  robertogozzi

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  03/26/2024 at 3:19 PM #230501
  Metodi97

  Thank you so much I really appreciate it. 🙂

  here you go:

  this is the Delta script:

  if(close>=open and (close-open+2*(high-close)+2*(open-low)))>0 then
  U1= volume*(high-low)/(close-open+2*(high-close)+2*(open-low))
  else
  U1=0.0
  endif
  //D1
  if(close<open and (open-close+2*(high-open)+2*(close-low)))>0 then
  D1 = volume*(high-low)/(open-close+2*(high-open)+2*(close-low))
  else
  D1=0.0
  endif
  //Delta
  if(close>=open) then
  Delta= U1
  else
  Delta= -D1
  endif

  if barindex>1 then
  cumDelta=(cumDelta[1])+Delta

  if close>=open then
  hi= cumDelta
  else
  hi =cumDelta[1]
  endif
  if close<=open then
  lo= cumDelta
  else
  lo=cumDelta[1]
  endif

  drawcandle(cumDelta[1], hi, lo, cumDelta)

  endif

  RETURN

   

   

  and then the RSI Divergence

   

  Rge = averagetruerange[10](close)
  MyRSI = rsi[RsiPeriod](Close)

  ONCE ShiftText = 3

  RsiMax = MyRSI < MyRSI[1] and MyRSI[1] > MyRSI[2] and MyRSI[1] > RsiOverBought
  RsiMin = MyRSI > MyRSI[1] and MyRSI[1] < MyRSI[2] and MyRSI[1] < RsiOverSold

  if RsiMax then
  RSIMax1 = MyRSI[1]
  High1 = High[1]

  for I = MinBarRange to 80
  if RsiMax[I] then
  RSIMax2 = MyRSI[I + 1]
  High2 = High[I + 1]
  If High1 > High2 and RSIMax1 < RSIMax2 then
  DRAWARROWDOWN(barindex, High + Rge / ShiftText)coloured(255,192,203,255)
  DRAWTEXT(“dd”, barindex, High + Rge / ShiftText / 0.3,SansSerif,Italic,10)coloured(0,0,255,255)
  elsif High1 < High2 and RSIMax1 > RSIMax2 then
  DRAWARROWDOWN(barindex, High + Rge / ShiftText)coloured(255,192,203,255)
  DRAWTEXT(“hd”, barindex, High + Rge / ShiftText / 0.2,SansSerif,Italic,10)coloured(0,0,255,255)
  endif
  break
  endif
  next
  endif

  if RsiMin then
  RSIMin1 = MyRSI[1]
  Low1 = Low[1]
  for I = MinBarRange to 80
  if RSIMin[I] then
  RSIMin2 = MyRSI[I + 1]
  Low2 = Low[I + 1]
  If Low1 < Low2 and RSIMin1 > RSIMin2 then
  DRAWARROWUP(barindex, lOW – Rge / ShiftText)coloured(0,0,255,255)
  DRAWTEXT(“dd”, barindex, lOW – Rge / ShiftText / 0.3,SansSerif,Italic,10)coloured(0,0,255,255)
  elsif Low1 > Low2 and RSIMin1 < RSIMin2 then
  DRAWARROWUP(barindex, lOW – Rge / ShiftText)coloured(0,0,255,255)
  DRAWTEXT(“hd”, barindex, lOW – Rge / ShiftText / 0.2,SansSerif,Italic,10)coloured(0,0,255,255)
  endif
  break
  endif
  next
  endif

  return

   

  

  Metodi97

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  04/01/2024 at 9:21 PM #230862
  robertogozzi

  The divergence indicator already plots signals on the price chart.

  How would you like to have the other indicator be plotted on the chart?

   

  

  robertogozzi

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  04/03/2024 at 9:50 AM #230969
  Metodi97

  Well it will be great if is the same as RSI signals print on the price. Thank you in advance 🙂

  

  Metodi97

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  04/14/2024 at 4:04 PM #231500
  robertogozzi

  The DELTA indicator cannot be properly plotted on the chart, as its scale is quite different fom that of the price.

  As you can see from the attached pic, to be able to spot the indicator you need to shrink the chart so that the price is similar to a flat line.

   

  1 user thanked author for this post.

  Metodi97

  

  robertogozzi

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