Divergence Index
Overview
The divergence index takes the volatility-adjusted difference between two moving averages, 10 and 40 bars by default and uses a Standard Deviation in the change in values to introduce a volatility measure..
To add the tool to your chart, select the tool from the Price tool group, and left-click on the chart to add the tool. Optuma will then draw the tool in a window below the chart using the default settings.
Scripting Function: DVI()
Actions & Properties
Actions
Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Divergence Index tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Divergence Index tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Divergence Index to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Properties
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.
Fast Average: The number of bars used to set the Fast Average component of the Divergence Index tools calculation.
Slow Average: The number of bars used to set the Slow Average component of the Divergence Index tools calculation.
Divergence Style: Expands to show the display option for the Divergence line (black by default). This includes Plot Style, Line Style, Line Width, and Colour options.
Shading Style: Expands to show the display options for the Shaded zone of the Divergence Index tool. This includes Fill Colour and Transparency.
Centre Line Style: Expands to show the display options for the zero value line of the Divergence Index tool. This includes Plot Style, Line Style, Line Width and Colour options.
Offset: Moves the tool forward or backwards in time. The offset is measured in bars, so a value of 2 will push the tool forward 2 bars and -2 will move the tool back 2 bars.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Visible: Un-tick this checkbox to hide the tool from the chart.
Show in Price Scale: When selected the current Divergence Index values will be displayed in the Price Scale.