ASQ Divergence Detector
Info
The ASQ Divergence Detector is a Indicator for MetaTrader 5 that asq divergence detector — spot reversals before they happen algosphere quant — precision before profit. This indicator scans your chart for regular and hidden RSI divergences, providing a powerful tool for traders to anticipate potential reversals.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use ASQ Divergence Detector
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
ASQ Divergence Detector — Spot Reversals Before They Happen AlgoSphere Quant — Precision before profit.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: RSI Divergence and Higher Timeframe (HTF) Power of 3 (PO3) Indicator - another powerful indicator for MetaTrader 5 traders.
ASQ Divergence Detector — Spot Reversals Before They HappenAlso recommended: Institutional Fractal Dimension Index (Regime Detector) - similar indicator with strong performance on MetaTrader 5.
AlgoSphere Quant — Precision before profit.
This indicator scans your chart for regular and hidden RSI divergences, providing a powerful tool for traders to anticipate potential reversals. It marks these divergences with clear, color-coded arrows, ensuring a straightforward and intuitive visualization.
Key Features:
- Non-repaint divergence arrows displayed directly on the main chart.
- Four divergence types: Regular Bullish, Regular Bearish, Hidden Bullish, and Hidden Bearish.
- Color-coded arrows for easy identification: green (Regular Bullish), red (Regular Bearish), blue (Hidden Bullish), and gold (Hidden Bearish).
- Text labels accompanying each divergence arrow, clearly indicating the divergence type.
- A real-time stats dashboard that tracks the count of each divergence type, offering a statistical perspective on bullish and bearish signals.
- Customizable settings: adjust swing length, lookback depth, and RSI period to suit your trading strategy.
- Alert system with popup, sound, and push notification to notify you of new divergences.
- Efficient CPU usage with a single-file design and no external dependencies.
Parameters:
- Detection: Configure swing length, lookback bars, RSI period, and toggle the display of regular and hidden divergences and labels.
- Alerts: Enable or disable popup, sound, and push notifications.
- Dashboard: Show or hide the dashboard, adjust its position, font size, and colors.
Installation:
1. Download ASQ_DivergenceDetector.mq5.
2. Place the file in MQL5/Indicators/.
3. Compile the indicator in MetaEditor.
4. Drag and drop onto any chart in MetaTrader 5.
Compatible with all brokers, instruments, and timeframes. Free and open-source.
You may also like: Institutional DXY Overlay and Correlation Divergence Indicator - excellent alternative for indicator users on MetaTrader 5.
⚠ 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.