Quick-tips 7 | Differences between the divergence programs on this site

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.

A graphic showing regular divergences. For example, if price makes a low pivot followed by a lower pivot, while an oscillator makes a low pivot followed by a higher low pivot, this might be a sign of a bullish move.

Simple

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.”

Intermediate

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.

More advanced

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.

On this chart the pivot at the bottom right of the chart is compared with several previous pivot. The ones where divergence is indicated are highlighted with lines.

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 analyzedWorks on sub minute bars (e.g seconds or tick bars)Multicharts compatibleOscillator and price pivots can be on different barsAnalyzes previous and additional pivotsType of programPrice
Tutorial 4StochasticNoYesYesNoIndicator$19.95
Tutorial 26StochasticNoYesYesNoIndicator$14.95
Tutorial 37StochasticNoYesYesNoShowme$14.95
Tutorial 75CCINoYesYesNoIndicator$49.95
Program 9CCINoYesYesNoIndicator$44.95
Program 10CCINoYesYesNoIndicator$54.95
Program 11CCINoYesYesNoIndicator$69.95
Program 18CCINoYesYesNoStrategy
Indicator
$225.00
Program 24CCINoYesYesNoIndicator$69.95
Program 27MACDNoYesYesYesIndicator$129.95
Program 28StochasticNoYesYesYesIndicator$95.95
Program 30TSINoYesYesYesIndicator$97.95
Program 42RSINoYesYesYesIndicator
Showme study
$79.95
Program 60Stochastic RSINoYesYesYesIndicator
Showme
$49.95
Program 62Stochastic
RSI
TSI
CCI
MACD
Stochastic RSI
YesNoYesYesIndicatorProtected $145.00
Unprotected $245.00
Program 66Stochastic
RSI
TSI
CCI
MACD
Stochastic RSI
YesYesYesYesFunction
Showme study
$175.00

Please let me know if you noticed any errors on this page or if you have further questions.

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