Double Stochastic Divergence

Same as my protected script but you can now see the code

This Study plots divergences and overlays a second %K as a fractal and changes the color of %D for the non fractal
Option to use Stochastic RSI for Fractal
Background Shading according to trend

Feel Free to change the indicator values to suit your style / system

The divergence script is thanks to @RicardoSantos, I've just adjusted it to suite my indicator

Remember that divergences work best when traded with the trend or very late in a trend when going against the trend

Common value for %K is 5, I have chosen 3 as it gives faster entries when using multiple time frames

If you are not using a momentum indicator as a trailing stop and using only cycle indicator
then I would recommended %K be 4 for exits

Notes de version:

Added Background Highlights for Over Bought and Over Sold Regions

Notes de version:

...

Notes de version:

Added ADX 2 Resting Bar Buy / Sell Entry Signal

Notes de version:

Background Color now according to MA Crossover
Adjusted Colors

Notes de version:

Much anticipated update

More options for Background Color Change, besides MA crossover color change options now include;

MACD Direction

&

Dad Direction (Top Dog Trading)



Also Added Alerts for;

Background color change

&

Divergences

Notes de version:

Added Trend Barmeter so now you can add confluence to your entries

3 Trend Barmeter lines, choose from MA Cross, MACD Cross, Dad Direction (Top Dog Trading) or Trend Candles

Notes de version:

Small adjustment

Notes de version:

Adjusted Background Shading Intensity

Notes de version:

Changed Values for Main Stochastic to;

K = 5
D = 3
Smoothing = 2

Added an extra Trend Bar. This 1 only shows MA Cross or where the Minor Base Line is in relation to the Major Base Line

Added Highlights to the Trend Bar to show possible Momentum Setups - Please use this with caution and in relation to Price action and S/R

Notes de version:

Removed ADX 2 Possible Entry Signal and RSI Plot

Added Momentum Setups to Trend Meter - Very Powerful Entries but Use With Caution

Look for Support or Resistance Levels for price to be attracted to

Enter Long above the Setup Bar

Enter Short Below the Setup Bar

When looking to break out from Trendline or S/R Level - Look for confluence by ensuring all 3 trend Meters are Highlighted the Same Color

Notes de version:

Adjusted;

Filter X parameters

Trend Meter Background Highlight - Filter X + 3 Trend Meter Conditions Met (Minor / Major Base Line Cross Excluded)

Notes de version:

Fixed fault with background highlight of trend meter

Notes de version:

Added ability;-

to Change the Color of the Main Stochastic

to Turn the Fractal / Secondary Stochastic off from the menus

Notes de version:

Updated Alerts so now you can see them properly when entering

Notes de version:

Fixed issue with Alerts

Notes de version:

Divergences Offset to Realistic Entry Point

Notes de version:

Trend Meter Background Highlight when all 3 conditions are met

Adjusted Alerts

Notes de version:

Fixed Fault with background highlights

Notes de version:

Updated Background Highlight and adjusted some menu's

Added Highlights for;

RSI Signal Line Cross (RSI = 13, Linear Regression Signal Line = 21) - Extremely powerful signal

MOM DAD Cross (Topdog Trading)

Notes de version:

Fixed a fault with the background colors that was introduced by Tradingview
Adjusted colors and thickness of stochastic lines to make them more visually appealing

Notes de version:

Removed The Trend Meters along with a Lot of Clutter (If you still need a Trend Meter please add it from my other Scripts on my Page)
Added On Balance Volume as an input source option for both Stochastics
Changed the look of the Stochastics for better visual appeal