Divergence at Markplex.com
I am often asked about the differences between all the many TradeStation EasyLanguage divergence based tutorials and programs on this site. The following are some notes to explain some of the features of the various programs. I have also listed all the divergence related programs/tutorials and created a table that compares the features below.
In tutorial 4, the program searches for low pivots (valleys) in the stochastic and assumes the price pivots occur at the same time. Having found a stochastic pivot it uses the price values that occur on the same bar as the pivot. Of course, oscillator pivots and price pivots do not always (or often) occur on the same bar. This tutorial is very simple and represents a good place to start when learning about programming EasyLanguage. In the table below I indicated this programming construct as “Oscillator and price pivots can be on different bars.”
In tutorial 26 and all later programs and tutorials, the program looks for pivots in both price AND the oscillator. These pivots must occur within a user input number of bars of each other to be considered ‘matching’ pivots.
The major difference between program 27 and later programs and tutorial 26 is that program 27 stores previous pivot information in an array (i.e. it keeps a records of the last several pivots). Each time a new pivot pair is discovered, previous pivots are compared with it. Tutorial 26 only determines whether there is divergence between the most recent two pivot pairs.
There are many other differences, some which are highlighted in the table below. For example, program 62 is an indicator, whereas program 66 is a function (in TradeStation parlance, this is a program that has to be called from another program) although I include an example TradeStation showme study of how to call the program 66 function.
Tutorials which include divergence calculations
Programs which include divergence calculations
Comparison of all the programs
|Oscillator analyzed||Works on sub minute bars (e.g seconds or tick bars)||Multicharts compatible||Oscillator and price pivots can be on different bars||Analyzes previous and additional pivots||Type of program||Price|
|Program 60||Stochastic RSI||No||Yes||Yes||Yes||Indicator|
|Program 62||Stochastic |
|Program 66||Stochastic |
Please let me know if you noticed any errors on this page or if you have further questions.