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Name:
FX5_MACD_Divergence
Author: FX5 (2007.06.14 11:29)
Rating: 15.2
Downloaded: 60011
Download:
 FX5_MACD_Divergence_V1.0.mq4 (11.8 Kb) View
 FX5_MACD_Divergence_V1.1.mq4 (12.1 Kb) View


After the success of the original indicator, I decided to write more indicators for detecting divergence between price and other indicator.



This indicator will plot divergence lines on the MACD indicator and will give buy and sell signal by displaying green and red arrows. It also has a built-in alert function. As the original indicator, bullish divergence is plotted in green lines while bearish divergence is plotted in red. If the divergence is classic the line will be solid and if the type is reversed the line will be interrupted.



I hope you gets the most benedfit from this indicator.

Changes to verion 1.1:

- This version is directed to traders who do not want repainted singals. The signals are not repainted buy they are delayed one candle.

40 comments: 1 2 3 4   To post a new comment, please log in or register
Please create for On balance volume Divergence
15.11.2013 08:39 sagarpaw

Thanks a million for your efforts, brilliant idea.

01.11.2013 19:36 dannyag
igsnowhawk:
glorenz75:


value1=iCustom(Symbol(),Period(),"FX5_MACD_Divergence_V1.1",

separator1,fastEMA,slowEMA,signalSMA,separator2,drawIndicatorTrendLines,drawPriceTrendLines,displayAlert,0,2);

value2=iCustom(Symbol(),Period(),"FX5_MACD_Divergence_V1.1",

separator1,fastEMA,slowEMA,signalSMA,separator2,drawIndicatorTrendLines,drawPriceTrendLines,displayAlert,1,2);

if(value1<100) ordersend(buy);

if(value2<100) ordersend(sell);


Woud it be possible for the custom indicator to return if its classical/reverse divergence, be it bullish/bearish? I have logged out value1 and value2 to observe the pattern and it does not seem to show any consistent patterns that are able to identify if the divergence is classical or reverse...any enlightenment is highly appreciated?
14.10.2013 08:54 roysten
glorenz75:
glorenz75:

Hi!

I am trying to build an EA based on this indicator and others, but I am honestly a newbie in programming. I have difficulty in creating the trigger to open a correct buy / sell order when the signal is given by this indicator. I was assuming that bullish divergence signal is geven when the value of buffer #0 is ddifferent from 0. but in this case orders happen to be done in every bar. this is how I am going to check for the signal... can you help me to understand where I am wrong? Looking at the data Window this should be correct!

IF (iCustom(NULL,0,"FX5_MACD_Divergence_V1.0",separator1,fastEMA,slowEMA,signalSMA,separator2,drawIndicatorTrendLines,drawPriceTrendLines,displayAlert,0,1) != 0)

Lorenz

I also tried with .... != EMPTY_VALUE ... but it catches only some of the signals! I do not understand why.

value1=iCustom(Symbol(),Period(),"FX5_MACD_Divergence_V1.1",

separator1,fastEMA,slowEMA,signalSMA,separator2,drawIndicatorTrendLines,drawPriceTrendLines,displayAlert,0,2);

value2=iCustom(Symbol(),Period(),"FX5_MACD_Divergence_V1.1",

separator1,fastEMA,slowEMA,signalSMA,separator2,drawIndicatorTrendLines,drawPriceTrendLines,displayAlert,1,2);

if(value1<100) ordersend(buy);

if(value2<100) ordersend(sell);



30.07.2013 05:06 igsnowhawk
glorenz75:

Hi! 

I am trying to build an EA based on this indicator and others, but I am honestly a newbie in programming. I have difficulty in creating the trigger to open a correct buy / sell order when the signal is given by this indicator. I was assuming that bullish divergence signal is geven when the value of buffer #0 is ddifferent from 0. but in this case orders happen to be done in every bar. this is how I am going to check for the signal... can you help me to understand where I am wrong? Looking at the data Window this should be correct!

   IF (iCustom(NULL,0,"FX5_MACD_Divergence_V1.0",separator1,fastEMA,slowEMA,signalSMA,separator2,drawIndicatorTrendLines,drawPriceTrendLines,displayAlert,0,1) != 0) 

 

Lorenz 

I also tried with .... != EMPTY_VALUE ... but it catches only some of the signals! I do not understand why. 
04.07.2013 09:41 glorenz75

Hi! 

I am trying to build an EA based on this indicator and others, but I am honestly a newbie in programming. I have difficulty in creating the trigger to open a correct buy / sell order when the signal is given by this indicator. I was assuming that bullish divergence signal is geven when the value of buffer #0 is ddifferent from 0. but in this case orders happen to be done in every bar. this is how I am going to check for the signal... can you help me to understand where I am wrong? Looking at the data Window this should be correct!

   IF (iCustom(NULL,0,"FX5_MACD_Divergence_V1.0",separator1,fastEMA,slowEMA,signalSMA,separator2,drawIndicatorTrendLines,drawPriceTrendLines,displayAlert,0,1) != 0) 

 

Lorenz 

03.07.2013 09:18 glorenz75
Is there a version for MT5 ?
12.06.2013 23:40 Roger4ever

Thanks soooooooooooooooooooooooooo much, do you have a free EA for it ? please let me know,

hatami1361@hotmail.com

04.05.2013 03:45 hatami1361
muy bueno y contento con el muy fiable sin repintar nada señales certeras teniendo cuidado con las señales que salen en contra de la tendencia aconsejo sacar beneficios rápidamente y cerrar.
23.02.2013 15:56 alperzamike
richeyeo:

richeyeo: Hi, could anyone advise me how to instal this indicator on my MT4 platorm.  Do I require the .ex4 file.  How could I convert the FX5_MACD_Divergence_V1.1.mq4.

 

Thank so much 

 

 


zzzTrader:
Very good indicator. You need to test to believe how powerful is. Just after a few test It becomes one of my most useful tools.


You copy it to you indicators directory (on my machine it is : C:\Program Files (x86)\MetaTrader - Alpari UK\experts\indicators), then you open the MT4 terminal, go Tools -> "Meta quotes language editor". When the editor opens, on your right expand "indicators" double click on the file you copied  (should be there) once the file open you can see the code... then click the compile button...once compile you can add the indicator as normal indicator via the terminal Insert-> Indicators-Custom 

 

Hope this helps.. 

14.02.2013 17:07 ToolMaker