/////////////////////////////////////////////
// MACD divergences on MACD
// by Jose Callao
// twitter @jose7674
// Use this indicator in a new window
N=20///N is the number of bars to look back for a divergence. Normal values are 20-40. Must be the same in both indicators
miMACD = exponentialAverage[12](close) - exponentialAverage[26](close)
IF (BarIndex > 10+1+N) THEN
///divergencia bajista
IF (miMACD[1]>miMACD AND miMACD[1]>miMACD[2]) THEN
extremum2=miMACD[1]
extremum1=highest[N](miMACD)
preciomax2=close[1]
preciomax=Highest[N](close)
IF(extremum2<extremum1 AND preciomax2>preciomax[1]) THEN
for i=1 to N
if mimacd[i]=extremum1 then
zz=i
drawsegment (barindex[1], mimacd[1], barindex[zz], mimacd[zz]) coloured(200,0,0)
drawarrowdown(barindex[1],mimacd[1]+2) coloured(200,0,0)
endif
next
endif
endif
///divergencia alcista
IF (miMACD[1]<miMACD AND miMACD[1]<miMACD[2]) THEN
extremum22=miMACD[1]
extremum11=lowest[N](miMACD)
preciomin2=close[1]
preciomin=lowest[N](close)
IF(extremum22>extremum11 AND preciomin2<preciomin[1]) THEN
for i2=1 to N
if mimacd[i2]=extremum11[1] then
zz2=i2
drawsegment(barindex[1], mimacd[1], barindex[zz2], mimacd[zz2])coloured(0,200,0)
drawarrowup(barindex[1],mimacd[1]-2) coloured(0,255,0)
endif
next
ENDIF
ENDIF
endif