Divergence Indicator
Info
The Divergence Indicator is a Indicator for MetaTrader 4 that this indicator provides a visual representation of price movement and potential trends. The blue bar indicates the direction of price movement: upwards for an upward trend and downwards for a downward trend.
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 Indicator
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
This indicator provides a visual representation of price movement and potential trends.
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: Range Filter Buy and Sell Indicator for MT4 with Signal Statistics - another powerful indicator for MetaTrader 4 traders.
This indicator provides a visual representation of price movement and potential trends.Also recommended: Quantum Apex Color Indicator - similar indicator with strong performance on MetaTrader 4.
The blue bar indicates the direction of price movement: upwards for an upward trend and downwards for a downward trend.
Dots mark the identified peaks (fractals) of the specified indicator.
Red bars represent maximum peaks, suggesting a potential price rollback or slight movement against the trend.
The indicator includes two versions: i-divergency.mq4 based on stochastic and i-divmacd.mq4 based on MACD.
To analyze other indicators, replace the relevant line with the desired one.
Note that false signals may occur, which is common in technical analysis.
You may also like: Mistral Trend Candles 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.