The SMT Divergences indicator highlights SMT divergences between the chart symbol and two user-selected tickers (ES and YM by default).
A dashboard returning the SMT divergences statistics is also provided within the settings.
๐ถ SETTINGS
Swing Lookback: Calculation window used to detect swing points.
Comparison Ticker: If enabled, will detect SMT divergences between the chart prices and the prices of the selected ticker.
๐น Dashboard
Show Dashboard: Displays statistics dashboard on the chart.
Location: Location of the dashboard on the chart.
Size: Size of the displayed dashboard.
๐ถ USAGE
SMT Divergences are characterized by diverging swing points between two securities.
The detection of SMT Divergences is performed by detecting swing points using the user chart prices as well as the prices of the selected external tickers. If a swing point on the chart ticker is detected at the same time on external tickers, comparison is performed.
Due to the detection requiring swing point confirmation (3 candles by default), this indicator can better be used to study price behaviors on the occurrence of an SMT divergence.
The dashboard highlights the number of SMT divergences that occurred on a swing high and swing low between the chart ticker and the selected external tickers.
The returned percentage indicates the proportion of swing highs or swing lows that led to an SMT divergence.
Excellent, How we can add an alert? It will be very useful if we do not watch the screen for hours. Thanks
kurtsmock
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That is a solid idea for Equity Index traders! I've thought about that idea, but have no interest in bouncing around between tickers. For wh
sroynine
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very intelligent indicator
nicknak179
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can we have some control over the size of the SMT because its really small or could we be able to change the color of the symbol we choose also the settings for dashboard box isnt working
Tick-Profits
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Thanks for sharing. A very useful addition to the Arsenal. Hope we will get one for GBPUSD and EURUSD in the future updates
Lluch
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The divergences appear 6 candles later on the right, I don't know how much help it can be, if you look at it in 1 hour timeframe, you see them at 6 hours past.
eujincheah
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Hi. Is there a way to create alert for this? Doesnโt seem to have the function
ok20_ir
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Please fix the candle signal indicator
Crypto_Popat
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very useful for btc with eth, Thank you
Switsam007
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Great indicator. Please can you add a feature for inverting the compared entities. Example: EU is directly correlated with GU but inversely corelated with DXY. So I need to invert DXY.