Technical Indicators for MetaTrader 5
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MetaTrader 5
Top Rated Products MT5
Overview
Detect divergence (classic, hidden) price and all oscillator indicator include: RSI, CCI, MACD, OSMA, Stochastic, Momentum, Awesome Oscillator (AO), Accelerator Oscillator (AC), Williams Percent Range (WPR), Relative Vigor Index (RVI), Rate of Change (ROC). Confirm reversal with dochian channel for to improve signal quality.
Divergence is when the price of an asset is moving in the opposite direction of a technical indicator, such as an oscillator, or is moving contrary to other data. Divergence warns that the current price trend may be weakening, and in some cases may lead to the price changing direction. There are some rule when determining divergence:
+ Price must extreme point at defined points of divergence. Extreme point may HH, LL for classic divergence and LH, LH for hidden divergency
+ Slope of price and oscillator must opposite direction
This indicator scan divergence and convergence in both stage hidden and classic from price and common oscillator. You can choose one of oscillators from indicator setting. When divergence happen, indicator will alert to user. In range 10 (setting) candle after divergence happen if price confirm by Dochian channel, indicator will trigger signal buy or sell and noti to user. In this way, buy or sell signal got best accuracy!!
Some advantages:
- Easy to trade
- Finds regular and hidden divergences
- Supports many well known oscillators
- Implements trading signals based on breakouts
- Displays suitable stop-loss and take-profit levels
- Configurable oscillator parameters
- Customizable colors and sizes
- Filter range from divergences to reversal price confirm
- It implements notification in many way: MT5 terminator, MT5 mobile app, Alert, Telegram
To offer a broad market perspective, the indicator can be loaded many times in the same chart using different oscillators, without interference. The indicator supports the following oscillators:
- RSI
- CCI
- MACD
- OSMA
- Stochastic
- Momentum
- Awesome Oscillator
- Accelerator Oscillator
- Williams Percent Range
- Relative Vigor Index
- Rate of Change
Note:
This indicator is not repaint at all. Divergency signal will draw at first time it occur. If price change in same or next candle, it make divergency point change or disappear but indicator will not repaint the signal (trigger at first time)
User can load many indicator in same chart. Each of them take care one kind of oscillator.
Input Parameters
- Amplitude: Zig-Zag period used to find divergences
- Oscillator - Choose the oscillator to load to the chart.
- Breakout period - Breakout period in bars for the trading signals.
- Divergence types - Enable or disable divergence types: hidden, regular or both.
- Maximum bars from a divergence to confirm.
- Indicator Settings - Desired indicator settings for all the oscillators involved.
- RSI period
- CCI period
- WPR period
- Momentum period
- Stochastic periods
- MACD settings
- RVI period
- ROC period
- Drawing Settings - Choose colors and line sizes of the divergences.
- Alerts - Enable or disable alerts in many way.
