The Sibbet Demand Index Divergence indicator for Metatrader 4 is an oscillator that provides solid free Forex trading signals.
The indicator works for any time frame and currency pair of your preference.
The Sibbet Demand Index Divergence indicator oscillates above and below the zero point: above the zero point is considered bullish while below bearish.
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown below.
- Good for scalping FX
- Good for day trading FX
- Does not repaint
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system.
Indicator Example Chart
The USD/JPY 5-minute chart below shows the Sibbet Demand Index Divergence Forex indicator in action.
Basic Trading Signals
- A buy signal is given when the Sibbet oscillator turns back above the zero level (colored green).
- Place stop loss below previous swing low.
- Exit the buy trade for a predetermined profit target or wait for the oscillator to turn back below the zero level.
- A sell signal is given when the Sibbet oscillator turns back below the zero level (colored red).
- Place stop loss above previous swing high.
- Exit the sell trade for a predetermined profit target or wait for the oscillator to turn back above the zero level.
Download This Forex Indicator
Adjustable Parameters & Settings
Time frame, length, phase, signal length, signal phase, divergence, alerts ON, alerts on slope, alerts email, colors, style
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: buy/sell signal oscillator
How to install the Sibbet Demand Index Divergence indicator in Metatrader 4?
- Copy and paste the sibbet-demand-index-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