Divergence scanner

The TradersTube Divergence Scanner represents an automated system designed to identify divergences within the forex and cryptocurrency markets. It efficiently detects these divergences and promptly communicates them to a dedicated Telegram channel alongside accompanying charts.

Divergence can provide early indications of potential trend reversals or continuations before they are confirmed by price action alone. This allows traders to enter positions earlier in the new trend, maximizing profit potential.

Divergence within the forex and cryptocurrency markets serves as a potent instrument for traders, signaling potential changes in price trajectory. This phenomenon arises when the price movement of an asset diverges from that of an indicator, such as the RSI , indicating a shift in market dynamics.

When combined with other technical analysis tools, such as support and resistance levels or trendlines, divergence analysis can enhance the accuracy of trading signals. This multi-dimensional approach helps traders make more informed decision

Our divergence scanner comprehensively monitors all major and minor currency pairs within the forex market, as well as a wide range of cryptocurrencies. The scanner operates effectively across two of the most commonly utilized timeframes: the 1-hour and 4-hour intervals.

However, it's important to recognize that divergence trading also has limitations and risks. False signals can occur, especially in ranging or choppy markets. Additionally, divergence analysis should be used in conjunction with other technical and fundamental analysis tools to increase its effectiveness