FX5_Divergence - MQL4 Code Base

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Name:

FX5_Divergence

Author:

FX5 (2007.06.05 13:54)

Rating:

7.6

Downloaded:

12427

Download:

FX5_Divergence_V2.0.mq4 (12.2 Kb) View

FX5_Divergence_v1.5.mq4 (14.6 Kb) View

FX5_Divergence_v1.1.mq4 (12.6 Kb) View

FX5_Divergence_V2.1.mq4 (11.3 Kb) View

Divergence is a powerful tool for detecting price reversal points from support and resistance zones. It usually gives us a relatively early signals compared to those given by moving average indicators. It can be successfully applied to many technical indicators and end up with good results.

This indicator will plot divergence lines between the price and OsMA indicator. It will give buy/sell signal according to the type of divergence that was detected. The indicator also is capable of drawing divergence lines for the whole history prices located within a specific chart.

Bullish divergence will be plotted with green lines on both price and OsMA idicator windows.

Bearish divergence will be plotted with red lines on both price and OsMA idicator windows.

I hope this indicator prove to be a useful tool.

Changes to Version 1.5:

A bug was fixed in updating divergence lines as the live quotes flow;
A sound Alert feature was added to the indicator and can be enabled or disabled from indicator settings;
Classical divergence is plotted in Solid Style (continues) lines, while hidden divergence is plotted in Dot Style (interuppted) lines.

Changes to version 2.0:

The code was rebuilt from scratch to make the indicator runs much faster.
The indicator now doesn't repaint any of its signals.
Some improvements in the signal identification algorithms.

Version 2.1:

I attached the last file by mistake. This is the one I wanted to attach. It is the last version. I am designating it version 2.1.

36 comments: 1 2 3 4 To post a new comment, please log in or register

bolasatuboladua wrote:
what are the best setting for for specific timeframe like M30 and H1 ? and also for other timeframe as well. any recommandations?

Usually, divergence is more powerful on higher time frames. However, you can use the indicator on M30, or H1 with the default settings.

27.03.2007 20:10 FX5

Gomelesose wrote:
Very nice indicator.

I have seen many, but this is one of the coolest.

Have you thought about doing the same thing with RSI? I think it may be even more powerful.

Anyway, thanks again!

Gomelesose

I am glad to know that you liked my indicator.

The basic idea of divergence can be applied on any oscillating indicator and that includes RSI. However, OsMa divergence is the most useful among all other indicators in my openion.

Thanks for your messege.

27.03.2007 20:02 FX5

waddahattar wrote:
Thank you very much my brother

It is a perfect indicator..

Waddah,

Thanks a lot for you encouragment.

Best regards,

27.03.2007 19:54 FX5

what are the best setting for for specific timeframe like M30 and H1 ? and also for other timeframe as well. any recommandations?

27.03.2007 04:32 bolasatuboladua

Very nice indicator.

I have seen many, but this is one of the coolest.

Have you thought about doing the same thing with RSI? I think it may be even more powerful.

Anyway, thanks again!

Gomelesose

24.03.2007 18:01 Gomelesose

Thank you very much my brother

It is a perfect indicator..

06.03.2007 18:30 waddahattar