BUBD checks for price divergence from oscillators across 6 different oscillators - MACD, CCI (Vol. weighted), RSI, Stochastic RSI, Money Flow and Relative Vigor index. Use it to find good entry spots for longs and also to find downtrend reversals. If this gets popular I will release a Bearish divergence indicator as well.
Please check your stock/crypto across all time frames to get a hint of any developing "Bullish" divergences. In case you get mixed signals - Blue - RSI Purple - RVI Yellow - CCI Green - MACD Lime light green - MFI Orange - Stoch RSI
Dont get confused by signals appearing on top and bottom all are bullish indicators. If you see a signal go to the respective oscillator to check the developing trend.
Catatan Rilis
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BUBD+ Updated- Formula for MFI upgraded to Stochastic MFI to avoid choppiness and Thresholds for divergences increased on RSI and MACD. RVI updated to standard 10 period average instead of 14.
Catatan Rilis
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CCI had an error, rectified it.
Catatan Rilis
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Colour coding has been changed to facilitate use with Bearish divergence simulataneously - Bullish colours are light colours. MACD- Green RVI - Pink Stoch RSI - Orange MFI - Lime CCI - yellow RSI - Aqua
Catatan Rilis
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Updates in formulae made to make sure old cycles are eliminated.
Edit - Do not use the script alone to make trades, the indicator is just a reminder for you to see the occuring bullish divergence. The magnitude of the bullish divergence can only be check by looking at the oscillator itself but this script will make it easy to track bullish divergences for you.
Uwe999
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cool idea.
The default values for "short and long periods" are mixed up.
I checked the MACD BD but it didn't show the one for AMZN on 9/27
UnknownUnicorn1178563
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I'd like to show how to use it. If you see a divergence go to its respective chart to see the strength of the divergence (Strength cannot be measured from lows alone hence charts need to be checked). If you were trading BTC on 15th of September you would have heard the FUD and seen the price dip with multiple divergences forming along the downfall. When price falls like that and this indicator shows multiple divergences then hold your longs/buys ready because a reversal (bottom) is coming and thats what we saw happen at 3k. Notice how many signals we had along the way and see the reversal inturn how price rocketed backup.
crazyheinz
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great help. Would love to set alarms for when something interesting forms. Is this possible to do?
MovingWater
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NICE CODE. ALREADY EARNING... HOW TO PUT AN EMAIL AND CELL PHONE ALERT? CAN I HIRE ANYONE?
orimony
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Nice
tsendtrades
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So if I wanted to use this bot, would I just download the script then apply it to my chart like how i normally apply an indicator? Is that how you get the bot to trigger a trade in real time?
UnknownUnicorn1178563
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@tsendtrades, Its not a bot just a divergence indicator meaning price will soon stop downtrend or range trade.
LiamGreen
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Is this for MT4 or MT5?
CryptoFortune
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Great stuff! I see three downward bulls... Imagine a fourth bull larger than that making an ultimate low.