Flow of Fund Divergence with alert
HISTOGRAM shows an approximate amount of money get in or out of the market within 1 bar. If selling pressure is stronger than buying pressure, it will be a red histogram, otherwise, it will be a green histogram.
Flow of fund trend line indicates the short or long term movement of the flow, determined by the "Length of FOF" input you set.
Divergence
The divergence signal has two types, bearish and bullish.
A bullish divergence occurs when the price hit a lower low and the FOF line is in uptrend. A down arrow will be drawn above the current FOF line when there is a bearish divergence between FOF and price trend.
A bearish divergence occurs when the price hit a higher high and the FOF line is in downtrend. A up arrow will be drawn below price candle bar when there is a bullish divergence between FOF and price trend.
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Author's instructions
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact Patternsmart directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.