OPEN-SOURCE SCRIPT
MA SLope Potential Divergence - Fontiramisu
Indicator showing potential momentum divergences on Moving Average's Slope.
The problem with the classic divergence is that when the signal appears, it is sometimes too late to enter a trade.
The potential divergence corrects this problem by signaling the beginning of a potential divergence.
Moving average slope is a momentum indicator that offers relevant insights with divergences
Potential divergences are indicated with the letter B and a red color for Bearish Div or Green color for Bullish Div .
Potential divergence is confirmed when the line and the label "Bear"' or "Bull" appear.
You can either show fast slope's divergences or slow slope's divergences or slow/fast diff's divergences.
The problem with the classic divergence is that when the signal appears, it is sometimes too late to enter a trade.
The potential divergence corrects this problem by signaling the beginning of a potential divergence.
Moving average slope is a momentum indicator that offers relevant insights with divergences
Potential divergences are indicated with the letter B and a red color for Bearish Div or Green color for Bullish Div .
Potential divergence is confirmed when the line and the label "Bear"' or "Bull" appear.
You can either show fast slope's divergences or slow slope's divergences or slow/fast diff's divergences.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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