RSI Divergence and Higher Timeframe (HTF) Power of 3 (PO3) Indicator
Info
The RSI Divergence and Higher Timeframe (HTF) Power of 3 (PO3) Indicator is a Indicator for MetaTrader 5 that this indicator integrates two essential trading tools: rsi divergence detection and a higher timeframe (htf) power of 3 (po3) candle projection. RSI divergences are highly reliable indicators of potential trend 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 RSI Divergence and Higher Timeframe (HTF) Power of 3 (PO3) 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 integrates two essential trading tools: RSI divergence detection and a Higher Timeframe (HTF) Power of 3 (PO3) candle projection.
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: ASQ Divergence Detector - another powerful indicator for MetaTrader 5 traders.
This indicator integrates two essential trading tools: RSI divergence detection and a Higher Timeframe (HTF) Power of 3 (PO3) candle projection.Also recommended: Institutional DXY Overlay and Correlation Divergence Indicator - similar indicator with strong performance on MetaTrader 5.
RSI divergences are highly reliable indicators of potential trend reversals. When price and RSI diverge, it signals a possible shift in momentum. This indicator automates the detection process, scanning historical data and real-time price action to identify and mark confirmed divergences with trend lines on both the main chart and the RSI subwindow.
Additionally, the indicator features a live candle projection panel, displaying recent closed candles from a higher timeframe alongside the forming live HTF candle. Each projected candle includes Open, High, Low, and Close values, along with a signed Delta (tick volume with direction). This provides traders with a comprehensive view of HTF momentum without the need to switch charts.
The indicator also incorporates a signal filter system, utilizing RSI level thresholds, HTF candle direction, and Delta direction to refine divergence signals. Only qualified divergences trigger colored arrows on the chart and update the dashboard panel, which displays symbol, timeframe, HTF candle direction, live RSI and Delta readings, and the last confirmed signal.
Traders can receive optional pop-up alerts for fresh divergences, and all drawn objects are removed when the indicator is detached from the chart.
Input Parameters
You may also like: Moving Average Convergence/Divergence (MACD) - 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.