Divergence Detector Indicator for MT4/MT5

Related: Divergence Indicator Panel - another powerful indicator for MetaTrader 4 traders.

This indicator is designed to trade using divergence.
It allows for the selection of one of 30 oscillators to detect divergences.

Also recommended: Multi-Indicator Divergence Detector for MetaTrader 4 - similar indicator with strong performance on MetaTrader 4.

Key features include:
- Displaying extremes as points (red for highs, yellow for lows).
- Identifying divergences using connecting segments between extremes.
- Drawing support/resistance lines as rays passing through extremes.
- Visualizing channels as rays.

Oscillator Selection:
The desired oscillator can be chosen by setting the 'osc' parameter. By default, the Relative Strength Index (RSI) is selected (oscillator number 29).
Available oscillators include:
- Volume
- Close
- Open
- High
- Low
- (h+l)/2
- (h+l+c)/3
- (h+l+c+c)/4
- (o+c+h+l)/4
- (o+c)/2
- Relative Strength Index (RSI)

Adjustable Parameters:
- osc=29: Number of the oscillator.
- th=true: Enable bearish divergence.
- tl=true: Enable bullish divergence.
- trend=true: Enable support/resistance lines.
- convergen=true: Enable hidden divergence.
- complect=1: Unique identifier for the indicator on the chart.
- backsteph=0: Number of historical bars to look back for highs.
- backstepl=0: Number of historical bars to look back for lows.
- backstep=0: General number of historical bars to look back.
- qsteps=1: Number of displayed steps (maximum three).
- levdpl=5: Demark level points for the left side (e.g., 2 means the central bar is above/below the two preceding bars).
- levdpr=1: Demark level points for the right side (e.g., 2 means the central bar is above/below the two following bars).
- period=8: Calculation period for specific oscillators (iadx, iatr, ibearspower, ibullspower, icci, idemarker, iforce, imomentum, imfi, irvi, istddev, irsi, iwpr).
- ma_method=0: Averaging method for specific oscillators (istochastic, istddev, iforce).
- ma_shift=0: MA shift for istddev.
- applied_price=4: Applied price for specific oscillators (irsi, istddev, iobv, iosma, imacd, imomentum, iforce, icci, ibullspower, ibearspower, iadx).
- mode=0: Line index for specific oscillators (istochastic, irvi, imacd, iadx).
- fast_ema_period=12: Fast EMA period for iosma, imacd.
- slow_ema_period=26: Slow EMA period for iosma, imacd.
- signal_period=9: Signal line period for iosma, imacd.
- kperiod=13: K line period for stochastic.
- dperiod=5: D line period for stochastic.
- slowing=3: Slowing parameter for stochastic.
- price_field=0: Applied price for stochastic.
- showbars=1000: Number of bars to display the indicator (0 for the entire chart).
- trend_down=true: Enable resistance lines.
- trend_up=true: Enable support lines.
- trendline=true: Enable support/resistance lines.
- handycolour=true: Apply custom colors.

Channel Settings:
- highline=red: Color for the high channel.
- lowline=deepskyblue: Color for the low channel.
- channelline=false: Use parallel channels to trend lines.
- trend=0: Filter trend lines (1=uptrend only, -1=downtrend only, 0=all trends).
- channel=false: Enable channels.
- regression=true: Use linear regression channel (false for standard deviation channel).
- rayh=true: Display ray for the high channel.
- rayl=true: Display ray for the low channel.
- channelh=red: Color of the high channel.
- channell=deepskyblue: Color of the low channel.
- std_widthh=1.0: Standard deviation width for the high channel.
- std_widthl=1.0: Standard deviation width for the low channel.

Other Settings:
- comment=false: Display comments on the chart.
- code=159: Character code for Wingdings font to display extremums.
- buystop=false: Display buystop levels.
- selllimit=false: Display selllimit levels.
- sellstop=false: Display sellstop levels.
- buylimit=false: Display buylimit levels.

Recommendations:
- The color of the oscillator and extremum points can be configured in the Colors tab of the indicator's properties.
- Change the 'complect' parameter when attaching multiple instances of this indicator to the chart to avoid conflicts.

You may also like: moving average convergence divergence (macd) - excellent alternative for indicator users on MetaTrader 4.

#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property stacksize 16384
#property indicator_separate_window 
#property indicator_level1 75
#property indicator_level2 50
#property indicator_level3 25
#property indicator_level4 0

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• 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.