Divergence Indicator
The Divergence Indicator, leveraging Amibroker data, identifies discrepancies between price action and technical indicators like RSI or MACD. AFLs may be used to create this indicator, aiding traders in spotting potential trend reversals or continuations.
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_SECTION_BEGIN("DI");
r = Param( "Periods", 1, 1, 100, 1 );
s = Param( "First Smoothing Periods", 15, 1, 100, 1 );
u = Param( "Second Smoothing Periods", 5, 1, 100, 1 );
DI = EMA(EMA((C-Ref(C,-r)),s),u);
Plot( DI, "DI("+r+","+s+","+u+")", ParamColor( "Color", colorRed ), ParamStyle("Style") );
_SECTION_END();