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CTS Daily Near-Term Divergence Column

$97.00

This column appears to be a custom trading script designed to analyze market conditions and identify potential bullish or bearish divergences. Here’s a breakdown of its components:

1. Market Sentiment Analysis:
– Determines whether the market posture is bullish or bearish, considering various conditions.
– Assigns a strength level to the posture based on the market’s position relative to defined thresholds and previous values.

2. Intermediate Confirmation:
– Calculates intermediate confirmation signals based on market posture, strength, and alignment with “Momentum” and “NearTerm” indicators.
– If conditions are met, it generates an intermediate confirmation signal for either bullish or bearish cases.

3. NearTerm Ups and Downs:
– Detects consecutive upward and downward movements in the “NearTerm” indicator.

4. Divergence Detection:
– Identifies potential bullish and bearish divergences based on specific conditions involving the “NearTerm” indicator and price close.
– Bullish divergence occurs when “NearTerm” moves up, but the price close is higher.
– Bearish divergence occurs when “NearTerm” moves down, but the price close is lower.

5. Label and Color Indication:
– Labels the chart with “Bullish Divergence” for bullish divergence, “Bearish Divergence” for bearish divergence, or “No Divergence” when none is detected.
– Uses green color for bullish divergence, red for bearish divergence, and the current color when no divergence is detected.

This column helps traders identify potential bullish or bearish divergences in the market based on conditions involving the “NearTerm” indicator and price movements. It provides visual indications, background color changes, and intermediate confirmation signals to assist in trading decision-making.

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