Dynamic Volume Oscillator [CryptoScripts]

The Dynamic Volume Oscillator uses a combination of volume and momentum to nail whenever a reversal is likely to happen. I've also included divergences (both regular and hidden) that you can toggle on/off and adjust the settings to fit your trading style.

Colors - The green wave indicates an uptrend while the purple wave indicates a downtrend.

Overbought/Oversold - Green backgrounds indicate the DVO is oversold and a reversal to the upside is likely to happen within the next few candles. Red backgrounds indicate the DVO is overbought and a reversal to the downside is likely to happen within the next few candles. You can adjust the levels to trigger when the signal flashes. Experiment with different timeframes/altcoins to see which settings work best. Some coins are more volatile than others and lower timeframes tend to reach higher levels vs higher timeframes.

Divergences - The settings of 1 and 3 for the lookbacks are so the divergence signal appears only 1 candle before the actual divergence happens (on the replay tool) vs 4-5 candles from other indicators. This means your entry on a divergence signal is 2 candles after it prints (for backtesting purposes).

Alerts - I also added alerts for Overbought, Oversold, Regular and Hidden Bearish/Bullish Divergences.

Let me know if you have any questions! Enjoy :)

Versionsinformation:

Updated the default signal length from 5 to 3 for better overbought/oversold accuracy.