The Multiple Divergence Forex indicator for Metatrader 4 enables trader to find divergences between price and over 30 different technical oscillators.
You can select the oscillator you’d like to use from the indicator’s inputs.
Divergences are mainly used to predict early trend reversals, to get you into the trade before the real move occurs.
Key Points
- Spots divergences between price and oscillator.
- Choose from over 30 different oscillators.
- Can be used for trade entries & exits.
Free Download
Download the “multiple-indicators-divergence.ex4” MT4 indicator
Indicator Example Chart
The EUR/USD H1 chart below shows the Multiple Divergence Forex indicator in action.
Basic Trading Signals
Signals from the Multiple Divergence Forex indicator for Metatrader 4 are easy to interpret and goes as follows:
BUY:
- A buy signal is gives when the bullish divergence line appears on the chart.
- Set a stop loss below previous support.
- Exit the buy trade for a risk-to-reward of 1.5 or more.
SELL:
- A sell signal is gives when the bearish divergence line appears on the chart.
- Set a stop loss below previous resistance.
- Exit the sell trade for a risk-to-reward of 1.5 or more.
Download This Forex Indicator
Download the “multiple-indicators-divergence.ex4” MT4 indicator
Adjustable Parameters & Settings
Oscillator, trend, period, T3 period, K period, D period, MA method, slow EMA period, fast EMA period, colors, width, style.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Supported currency pairs: Any
Trading Platform: Metatrader 4 (MT4)
Time Frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Divergence
How to install the Multiple Divergence indicator in Metatrader 4?
- Copy and paste the multiple-indicators-divergence.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove the indicator from the chart?
- Right click in the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button