Divergence
Overview
The Divergence indicator can be applied to any View tool (such as the RSI in the example below). It will then highlight areas of divergence between the slopes of the indicator and the chart’s price.
To add the tool to your chart, you need to first have a View tool applied such as the RSI. Next, select the tool from the Price tool group, and left-click on the chart or indicator on which you wish to add the tool. Optuma will then draw the tool using the default settings.
Scripting Function: DIVERGENCE()
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 Line Alert: Selecting this action will set a Line Alert based on the selected line.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Divergence 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 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 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 Structures Panel.
Bars: Sets the number of bars to be used in the Divergence calculation.
Sensitivity: Controls how far the slopes of the indicators have to be apart to trigger a divergent condition. The smaller the number, the more sensitive to the slopes.
Show Filter: When selected Filter options become available so you can filter the results that are displayed.
Filter Below: This option becomes available when Show Filter is selected. For the value that is entered, results will not be displayed below that value.
Filter Above: This option becomes available when Show Filter is selected. For the value that is entered, results will not be displayed above that value.
Positive Divergence Style: Expands to display the following properties:
- Line Style - The Line Style property allows you to adjust the type of the line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
- Line Width - Allows you to adjust the width of the line. Moving the slider bar to the right increases the thickness of the line.
- Line Colour - Allows you to select the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
- Transparency - Use this slider bar to adjust the transparency of the Positive Divergence line. Moving the slider to the left will increase the transparency.
- Fill Colour - Adjusts the Fill Colour for the Positive Divergence.
- Fill Transparency - Use this slider bar to adjust the transparency of the shading. Moving the slider to the left will increase the transparency.
- Visible - When deselected, the Positive Divergence will not be displayed.
Negative Divergence Style: Expands to display the same properties as the Positive Divergence.
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 all plot values will be displayed in the Price Scale.