Topic: Convergence Divergence indicators.
Uploaded three new indicators in the repository:
- CCI Convergence Divergence;
- MACD Convergence Divergence;
- RSI Convergence Divergence;
The indicators calculate two MA lines - one calculated on the particular indicator and another one calculated on the market's close price. The indicators give signals on Convergence or Divergence between these MAs as follows:
We have Divergence when both MA are moving in opposite directions:
- Indicator MA rises and Market MA falls; or
- Indicator MA falls and Market MA rises.
We have Convergence when both MA are moving in equal direction:
- Indicator MA rises and Market MA rises; or
- Indicator MA falls and Market MA falls.
This indicators give equal signals for both long and short positions. For example, if there is a Convergence, they allow both opening long and short positions. It means that we can use this indicators for additional filters. They cannot determine the position direction alone.
The indicators can be placed in Opening Logic Condition slot and in Closing Logic Condition.