This plots the Turning Points and Concavity
with the addition of colored segments representing concavity and turning points: maxima, minima and inflection.
a fast way to determine the trend direction and possible reversals based on concavity of the trend
Dark Green: Concave Up but decreasing. The 'mood' has changed and the declining trend of the is slowing. Possible trend change to Uptrend soon
Light Green: Concave up and increasing. Price is increasing, and since the curve is still concave up, it is accelerating upward. Uptrend
Orange: Concavity is now downward, and though price is still increasing, the rate has slowed, perhaps the mood has become less enthusiastic. Possible trend change to Downtrend soon
Red: Concave down and decreasing. Downtrend
Buy signals generated when Hull turns from Dark Green -> Light Green
Sell signals generated when Hull turns from Orange -> Red
To best determine if this is a entry point or a trend reversal, it is recommended to use in conjunction with the QQEMoMoTV indicator
Calculates the concavity of the comparing the Hull concavity of the current bar to the previous bar and displays the concavity in the form of 4 different colors.
Note: may cause repainting, so recommended to use with another indicator such as the QQEMoMoTV indicator to confirm signals.
Calculates divergence between the calculated and the actual price and displays this in the Divergence Label.
Calculates the local minima, maxima and inflection points with the ability to display these as auto lines.
You can use the script's inputs to configure:
• Calculation Source (default HL2 )
• Length (default 21)
• Lookback (default 2)
• Whether to show Auto Support/Resist Lines
• Whether to show Buy/Sell Arrows
• Whether to show Divergence Label
• Whether to extend Local Auto Support/Resist Lines
Buy Signal alert based on crossing above MA_Min/Hull Support, when Hull turns from Dark Green -> Light Green,
Sell Signal alert based on crossing below MA_Max/Hull Resistance, when Hull turns from Orange -> Red,
Experimental support for applying the indicator to higher time frames
eg. charting the hourly MashumeHull indicator on 15 min chart. See the commented code to access this feature
Original Author: Seth Urion (Mashume)
Feature upgrades and usage: Xiuying
Converted to Tradingview by: Machdragon
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
tbh personally, I don't really use the divergence in my trading