OPEN-SOURCE SCRIPT
STY-Divergence
draws a blue line representing the divergence between a 3-period moving average (3MA) close and the current candle high, and a red line representing the divergence between a 20-period moving average (20MA) close and the 3MA close
This script calculates the moving averages for both 3-period and 20-period and then computes the divergences as described. It plots the lines with blue color if the divergence is positive and red if negative. Adjust the length of moving averages or other parameters according to your preference.
This script calculates the moving averages for both 3-period and 20-period and then computes the divergences as described. It plots the lines with blue color if the divergence is positive and red if negative. Adjust the length of moving averages or other parameters according to your preference.
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