Divergence Between Two Time Series

I attached the excel file with two time series data next to each other – the price and an indicator data. I have to automatically identify when the two time series DIVERGE from each other. Diverging occurs when the price makes a new high and the indicators doesn’t make a new high (called “bearish divergence”) and also when the price makes a new low and the indicator doesn’t make a new low (called “bullish divergence”). I attached the two pictures I made to demonstrate these two divergencies.

To spot the divergencies one would go through the price data – finding new highs and lows and then compare each consecutive high and low with the corresponding reading on the indicator field to see if it is also making new high or low. There would be a minimum and the maximum of data points to look back – that would ideally be configurable from a separate input cell. The problem is that I do not know how in principle such task should be approached - is it best to make a macro or can this be done through a series of formulas each building upon the previous?