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Divergence Formulas
I've seen many divergence formulas written for MetaStock, but in my opinion,
none of them work well. Here, I'll present a divergence formula for MetaStock using RSI(14) and the close. I'll also introduce another divergence formula, which I call double successive divergence (DSD).

Divergence Formula

I1:=Zig(RSI(14),EKA,%)>Ref(Zig(RSI(14),EKA,%),-1) AND
V3:=ValueWhen(2,I1, Ref(Zig(RSI(14),EKA,%),-1));
C1:=V1>V3 AND V2<V4 ;
C1 AND Ref(C1,-1)=0 AND RSI(14)>Ref(RSI(14),-1)


Double Successive Divergence

I1:=Zig(RSI(14),3,%)>Ref(Zig(RSI(14),3,%),-1) AND
V3:=ValueWhen(2,I1, Ref(Zig(RSI(14),3,%),-1));
V5:=ValueWhen(3,I1, Ref(Zig(RSI(14),3,%),-1));
C1:=V1<V3 AND V2>V4 AND V3<V5 AND V4>V6 ;
C1 AND Ref(C1,-1)=0 AND RSI(14)>Ref(RSI(14),-1)


With these formulas, RSI(14) may be replaced by other indicators such as CCI, OBV, and so on. In addition, the time frame may be extended from min to years. If readers find these formulas useful, next time I'll introduce some others using fractals. --Siannas Christos, S&C reader.
Source / From: TOP

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