Volume Divergence
• Formula originated from: "Hidden Price Divergence" (circles) by TheLark. I did two things to harness its
effectiveness:
• Firstly, I developed a unique way to filter out the divergence signals that were appearing on both sides of the
midline. This filter will be known as the "Midline Tool". It filters out a lot of the false signals commonly
associated with oscillators.
• Then, I modified the default format from Price to Volume.
• The midline formula "Midline Tool" was developed by me . It adjusts in the thousands since it's volume.
Let me know in the comments if you would rater have a smaller step value than 10,000. How does it work?
Crossover then Crossunder, the arrows only appear during the first sign of hidden volume divergence once
crossing the midline. Normally, these signs appear on both side of the midline both bearish and bullish no
matter if it's on an oversold or overbought side of the spectrum... Also, let
me know in the comments if you would like for me to release an oscillator version of this
indicator for co-witnessing.
Features:
• Volume divergence
• Midline Tool©
• Disclaimer: This indicator does not constitute investment advice. Trade at your own risk with the investments
you can afford to lose because all financial investments have risks and this is not a
guarantee that the volume divergence will be 100% all the time.
• Formula originated from: "Hidden Price Divergence" (circles) by TheLark. I did two things to harness its
effectiveness:
• Firstly, I developed a unique way to filter out the divergence signals that were appearing on both sides of the
midline. This filter will be known as the "Midline Tool". It filters out a lot of the false signals commonly
associated with oscillators.
• Then, I modified the default format from Price to Volume.
• The midline formula "Midline Tool" was developed by me . It adjusts in the thousands since it's volume.
Let me know in the comments if you would rater have a smaller step value than 10,000. How does it work?
Crossover then Crossunder, the arrows only appear during the first sign of hidden volume divergence once
crossing the midline. Normally, these signs appear on both side of the midline both bearish and bullish no
matter if it's on an oversold or overbought side of the spectrum... Also, let
me know in the comments if you would like for me to release an oscillator version of this
indicator for co-witnessing.
Features:
• Volume divergence
• Midline Tool©
• Disclaimer: This indicator does not constitute investment advice. Trade at your own risk with the investments
you can afford to lose because all financial investments have risks and this is not a
guarantee that the volume divergence will be 100% all the time.
Versionsinformation:
Tooltips
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Alerts added
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Conditions updated
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Updated Alerts
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Future updates coming
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Updated repainting conditions
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Alerts tested and active. To use: click 🕘Alert + Condition + VOL_CROP + Trigger: "Once Per Bar Close"
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Alerts in maintenance
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MACD lengths updated to 7 & 5 from 26 & 12. If you wish to keep the original settings, you may adjust them in the Inputs menu.