Configurable Oscillator Divergence Screening with Trend and Pivot Filters
Summary
This screener detects regular and hidden bullish or bearish divergences between price pivots and a selected oscillator. It supports built in oscillators such as RSI, CCI, CMO, momentum and stochastic measures, or an external oscillator series. A Zigzag process identifies pivots, then divergence lines and labels are drawn on both price and oscillator views, with alert options for each divergence type.
Trend context can be determined from Zigzag pivot structure, moving average differences between pivots, or an external trend signal. The repaint setting controls whether provisional pivots can update or signals wait for confirmed pivots. The script also marks divergences as broken when price moves beyond the associated reference point and exposes current and latest divergence states in the data window. The document describes indicator mechanics rather than trading performance. Repainting can change apparent signals, while disabling it delays recognition until pivots are confirmed; no evidence establishes standalone profitability.
Key ideas
- The screener compares price pivot behavior with a selectable built in or external oscillator to identify regular and hidden divergences.
- Zigzag pivots structure the comparisons, while trend can be assessed through pivot patterns, moving average differences, or an external signal.
- Repainting allows divergence lines to update with new information, whereas confirmed pivot mode delays signals.
- The script offers separate alerts and visual styles for bullish, bearish, and hidden divergence types.
- A divergence is marked broken when price crosses its associated reference level.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.