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CTS Daily and 4 hour Micro-Divergence Column


This column is used to identify various types of market conditions and micro divergences based on the Near_Term relationships and specific price levels.

1. Parameters Setup:
– Defines certain price levels (UpperZone, LowerZone, Midline) and uses indicators (GW, NT, MoMo).

2. Moving Averages Relationship:
– Checks if moving averages are in certain relationships to spot potential bullish or bearish trends.

3. Price Patterns Detection:
– Identifies specific price patterns based on high, low, and close prices.

4. Micro Divergence Recognition:
– Detects potential micro divergences by considering indicator conditions and price patterns.

5. Early Micro Divergence:
– Detects possible early micro divergences before they fully form.

6. Labels and Colors:
– Labels the chart with different conditions and uses colors to differentiate them.

7. Background Color Indication:
– Changes the chart’s background color to reflect the identified market conditions.

This column helps traders spot different market situations and potential price changes using moving averages, price patterns, and indicators. It labels these situations on the chart with colors to provide insights into possible market movements.

Please note that this script is for educational purposes and cannot be shared due to user agreement restrictions.