The 'Lachie T.A.N.G.L.E.S system' is further development in my line of divergence indicators which applies a few different factors besides just flat divergence logic. This innovative script has been completely rebuilt from its predecessor: Lachie 5.0.1.2: DDS, which was not missing a lot of opportunities for users as it's sensitivity was pruned right back.
Introduction
The purpose of this indicator is to assist users in finding entries primarily using divergence logic. The indicator will show users when they should be paying attention as well as highlighting areas of entry as well as confirmation. While this indicator has 'signal' like components, its aim is more to assist users in making their own moves by providing confidence and/or educating them on areas of interest.
This indicator is a further release of my previous indicator Lachie 3.0: DDS (Divergence Detection System) and Lachie 5.0.1.2: DDS (Divergence Detection System).
What's new
Feedback on both Lachie 5.0.1.2: DDS and Lachie 3.0 DDS has helped shape the future direction of my indicators. With the aim of providing reliable results to users while maintaining a reasonable amount of opportunities, this new system is:
--Fully customizable (sensitivity and removal and/or addition of certain signals)
--Completely new re worked core logic (no longer RSI based)
--Increased compatibility over multiple timeframes
--Three components of confirmation.
--Increased compatibly across markets and pairs.
How to use and interpretation
Once permission has been assigned, you will add this indicator via 'indicators' and 'invite only scripts' section of TradingView's chart page. The system will spit out 6 types of signals. There will be bullish (green) and bearish (red) flags which are more to wake users up and pay attention to the set up unfolding (bullish/bearish divergence). Notably these flags on lower timeframes work well as scalping signals. The yellow triangles aim to highlight divergence formations and reasonable areas to consider taking a position. The purple diamonds are bullish and bearish confirmations based off separate proprietary logic. The strongest confirmation observed so far is having a flag, triangle and diamond within extremely close proximity to each other.
Customization
The system is completely customizable by selecting the little gear to the right of the indicator name. In the input section you will be able to control the sensitivity of the core logic of the indicator if it is too loud/not loud enough. If you find a particular component irrelevant or too annoying you can disable it in the styles tab. The style section will also allow you to manipulate the colour scheme and icons should you have a particular theme on your charts that the default settings break.
Future implementations
--Increased customization of each signal specifically (in development right now)
--Low volume support
--May be moved to pay for access once moved out of Alpha (BCE members not applicable to charge)
What is T.A.N.G.L.E.S?
Tangles is my Rainbow Lorikeet and the signals are based off her colours.
How to gain access (vendor requirement)
Please contact me in a direct message via TradingView to apply. BCE members contact via the BCE platform.
Created and owned by Lachlan Schahinger. (2021)
Introduction
The purpose of this indicator is to assist users in finding entries primarily using divergence logic. The indicator will show users when they should be paying attention as well as highlighting areas of entry as well as confirmation. While this indicator has 'signal' like components, its aim is more to assist users in making their own moves by providing confidence and/or educating them on areas of interest.
This indicator is a further release of my previous indicator Lachie 3.0: DDS (Divergence Detection System) and Lachie 5.0.1.2: DDS (Divergence Detection System).
What's new
Feedback on both Lachie 5.0.1.2: DDS and Lachie 3.0 DDS has helped shape the future direction of my indicators. With the aim of providing reliable results to users while maintaining a reasonable amount of opportunities, this new system is:
--Fully customizable (sensitivity and removal and/or addition of certain signals)
--Completely new re worked core logic (no longer RSI based)
--Increased compatibility over multiple timeframes
--Three components of confirmation.
--Increased compatibly across markets and pairs.
How to use and interpretation
Once permission has been assigned, you will add this indicator via 'indicators' and 'invite only scripts' section of TradingView's chart page. The system will spit out 6 types of signals. There will be bullish (green) and bearish (red) flags which are more to wake users up and pay attention to the set up unfolding (bullish/bearish divergence). Notably these flags on lower timeframes work well as scalping signals. The yellow triangles aim to highlight divergence formations and reasonable areas to consider taking a position. The purple diamonds are bullish and bearish confirmations based off separate proprietary logic. The strongest confirmation observed so far is having a flag, triangle and diamond within extremely close proximity to each other.
Customization
The system is completely customizable by selecting the little gear to the right of the indicator name. In the input section you will be able to control the sensitivity of the core logic of the indicator if it is too loud/not loud enough. If you find a particular component irrelevant or too annoying you can disable it in the styles tab. The style section will also allow you to manipulate the colour scheme and icons should you have a particular theme on your charts that the default settings break.
Future implementations
--Increased customization of each signal specifically (in development right now)
--Low volume support
--May be moved to pay for access once moved out of Alpha (BCE members not applicable to charge)
What is T.A.N.G.L.E.S?
Tangles is my Rainbow Lorikeet and the signals are based off her colours.
How to gain access (vendor requirement)
Please contact me in a direct message via TradingView to apply. BCE members contact via the BCE platform.
Created and owned by Lachlan Schahinger. (2021)
Release Notes:
Version 1.0.11
Changes made:
-- added alert hooks for each signal type.
Changes made:
-- added alert hooks for each signal type.
Release Notes:
Update to 1.0.11, made a mistake.