divergence
Info
The divergence is a Indicator for MetaTrader 4 that if the blue bar is directed upwards, the price will also go up. downwards - likewise.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use divergence
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
if the blue bar is directed upwards, the price will also go up.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: moving average convergence divergence (macd) - another powerful indicator for MetaTrader 4 traders.
if the blue bar is directed upwards, the price will also go up. downwards - likewise.
Also recommended: fx5 divergence indicator - similar indicator with strong performance on MetaTrader 4.
dots indicate the identified peaks (fractals) of the specified indicator.red bars are the maximum peaks (weak signal that the price will "roll back" and slightly move against the trend)
i-divergency.mq4 - divergence based on stochastic
i-divmacd.mq4 - divergence based on macd
if you want to analyze any other indicators - replace the line
with the required one
there can also be false signals. can't do without them.
You may also like: fx5 divergence indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_separate_window
#property indicator_buffers 4
#property indicator_color1 darkslateblue
#property indicator_width1 2
#property indicator_color2 red
#property indicator_width2 2
#property indicator_color3 firebrick
#property indicator_width3 1.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.