Thinkorswim Divergence Lines Upgrade 33

Divergence Lines Drawn Directly On the Chart

Thanks to a huge response and feedback from our viewers we are very excited to publish version three of the Divergence Premium indicators for Thinkorswim. Along with the new version we have published a video titled “Thinkorswim Divergence Lines Upgrade”. We are also including a custom scan along with the upgraded version. Customers who already purchased version two are receiving the upgraded version at no extra charge! In this video we show how to adjust the settings and run the scan. And there is a live chart demo showing how the chart based alerts function. At the request of viewers, we have also added a companion study, available separately. The companion study measures divergence in a different way.


We realize there are many techniques employed for reading divergence. We tried to be as accommodating as possible within the limits impose by the Thinkscript language. I’m sure you will be very excited to see the new ways these indicators can be customized to fit your needs.

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33 thoughts on “Thinkorswim Divergence Lines Upgrade

  • J Leo Arsenault

    Wondering if you could help with the standDevChannel into a Watchlist?? I can’t get the “UnderPrice” to fire a warning. I think its my plot value if statement??? see below the code.


    def UpperLine =StandardDevChannel(“deviations” = 1.3).”LowerLine” is greater than close;

    def LowerLine = StandardDevChannel(“deviations” = 1.3).”MiddleLine” is greater than close;

    plot value = if UpperLine then 1.3 else if LowerLine then 1.3 else 0;

    #def UpperLine = UpperLine1 > 1; #newCode
    #def LowerLine = LowerLine1 < 1; #newCode

    AddLabel(LowerLine, "UnderPriced", color.Black);
    AddLabel(UpperLine, "OverPriced",; #is working
    AddLabel(!LowerLine and !UpperLine, " ",;

    AssignBackgroundColor(if LowerLine then color.RED else if UpperLine then color.GREEN else;

  • Pete Hahn Post author

    Your questions are appreciated but way to complex to be trying to work out these details in the comments section of the demo video. About the only one of your questions I can answer is #1, and the answer to that question was explained in the demo video. The settings for RSI and Stochastic are included in the upper chart study that plots divergence and all changes will need to be made there. Everything else you listed would be considered a modification, which you would need to submit as a custom project request after purchasing the full version. Details about how to submit a custom project request is located on the following webpage:

  • David

    Hi, is the standard divergence RSI works for timeframe weekly or dayly or 4h?, i did no see this examples in video

    • Pete Hahn Post author

      I have not found a time frame that is not supported by these indicators. There is nothing in the code that is based on date/time information. It only measures changes in values over specified number of bars. If you would like to see something specific you can fill out the order form and request specific screenshots in the questions/comments section of the order form.

    • Pete Hahn Post author

      Sorry but no. None of our premium studies provide buy and sell signals. The only studies that would provide buy and sell signals are not studies at all. Rather they are more accurately referred to as “Trading Systems”. A trading system incorporates many different indicators and patterns into a signal “system” or “trading setup”. Any trading system you might find must also include the ability to backtest and optimize it’s performance using various user inputs settings. When you find one that can produce consistent trading profits you should expect to pay several hundred dollars or more.

    • Pete Hahn Post author

      Yes, I have created several customized versions of our divergence studies for clients. After purchasing the standard version there is a modification fee to create the customized version that you require.

  • Rudy

    Hi Hahn,

    Is does RSI Hidden divergence lag by 3 candles to confirm the divergence?

    Ive seen your video but I couldnt tell if it confirmed the line after the 3rd candle.
    I mainly use Daily chart so I assume that if I use it as a scan, the confirmation would come up 3 days after it already happened.

    • Pete Hahn Post author

      No, the right side strength of the swing pivots is 1 bar. The divergence signals are locked in at the close of the bar that immediately follows the divergence signal.

      • Rudy

        Awesome, 2 more questions.
        Does it catch both bullish and bearish hidden divergence?
        And is it both an upper and a Lower study?

      • Rudy

        Last Question Hahn,

        I’m mainly looking for posible trend continuation using hidden divergence. Which hidden divergence did you use on this video at the 21minute mark,
        Was it the MacD or RSI hidden divergence?

      • Pete Hahn Post author

        I have no idea. Not at the computer today so I can’t view it at this time. The name of the chart study should be displayed on the tittle bar of the chart. And I probably matched the hidden divergence with the lower study so that it would be clear which divergence was being measured.

    • Pete Hahn Post author

      Thanks. But I don’t have the slightest idea how to detect when hedge fund get in the market. From what I hear, hedge funds are folding are a record rate. Stocks have been going straight up for well over a decade and nobody really needs a hedge fund anymore. That’s what I hear anyway.

      • Pete Hahn Post author

        None of our premium indicators are designed for specific trading styles, trade durations or time frames. All of our premium indicators are designed to be adjustable to fit the widest possible audience.

    • Pete Hahn Post author

      We have created several modified versions of our divergence studies for clients. The modification fee to swap out one of the two lower studies is $75 USD (after paying the full price for the premium study). The ForceIndex is an oscillator type study and therefore is a candidate to be added to our divergence studies.

      • sss

        ok thanks. where can i find info on the hidden divergence indicator? I tried searching online however i couldn’t find much.

  • David Gellman

    I am looking for a “scan” program for TOS to locate candidates that have experienced divergence bottoms or tops and can be scanned in any time frame (ex. 15 min, 1 hour, daily, weekly etc.) and return a list of those symbols which have met the criteria. It can be based on divergence with MACD or RSI…… Also, if you are familiar with the Connors “Turtle Soup” setup, which is also basically a divergence setup that does need to be used along with any indicators, that would also be ideal.

    Do you have any scans that can screen for any of these conditions?

    • Pete Hahn Post author

      Did you watch the entire demo video for this indicator? Because in this video we do demonstrate that the indicator includes code to run scans for divergence signals. I have no knowledge of “Connors Turtle Soup” so i have no comment on that.

  • Stephen Hobbs

    Hi. Does the divergence line include the capability to use ToS scan to find stocks that fit the criteria? If not, is it possible code ToS scan to find stocks that fit the divergence line code? Thanks.

    • Pete Hahn Post author

      You really need to watch the entire video. If you have any questions that are not covered in the video I will be more than happy to answer them. The demo video serves as the entire use manual for this indicator so it is absolutely essential you watch the entire video from start to finish.

      • Pete Hahn Post author

        No. contributions are entirely voluntary. I went to great lengths to make sure there was no way to confuse that. Viewers who leave a contribution receive absolutely nothing in return. It’s basically a tip jar. When one of our videos provides free code. The code is indeed free. Just find the link inside the video and download it. Keep in mind you have left this comment on a video for one of our premium indicators. So this video in particular does not provide any free code to download.