Price CD HBT
Description
Price CD HBT (Price Convergence/Divergence High Bottom Top) is a innovative universal analytical bears indicator of convergence/divergence between financial instruments. The indicator is the first out of the two possible versions (HBT and HTB) of the bearish convergence/divergence origins.
Due to its multiple use feature, the indicator allows you to find convergences/divergences between the price of main financial instrument and other financial instruments simultaneously.
Users can select the sell graphical symbol and its width, as well as the color of convergence/divergence lines.
The indicator may be used with any broker, irrespective of the name of the financial instrument since it is necessary to manually enter the name as an input parameter. If you enter a non-existent or incorrect name of a financial instrument, you will receive an error message that this financial instrument is unknown (does not exist).
The indicator is not a lagging one. It works by ticks and is able to show convergence/divergence in the symbol's window even if there is no separate window with another financial instrument used for search. This allows you to open additional windows with any other indicators for a joint analysis.
As an option, the indicator can notify of a new signal using the graphical sell symbol instead of convergence/divergence lines.
In most cases, convergence/divergence is considered to be confirmed if it takes the form of a line with a graphical symbol remaining on the chart.
Searching of convergence/divergence on one financial instrument means searching of levels of support/resistance!
Attention: Since the indicator is downloaded, graphical symbols are displayed in the main window only after a new convergence/divergence signal appears (unlike convergence/divergence lines). Graphical symbols are not displayed for the past periods (before the indicator was downloaded).
For plotting of lines of convergence/divergence in a separate window the indicator identifies one of any eleven custom indicators (pls. see input parameters) in the presence.
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