Divergence Dashboard Indicator - Complete User Guide & Trading Manual (MT4 & MT5)
The Divergence Dashboard Indicator is a professional multi-symbol, multi-timeframe scanner that automatically detects divergence signals across your selected currency pairs and timeframes using your choice of 10 independent oscillators.
Divergence occurs when the direction of a price trend and the direction of an oscillator indicator move in opposite directions. This disagreement between price and momentum is one of the most powerful signals in technical analysis, often foreshadowing trend reversals or continuation moves before they become visible on the price chart alone.
Why Divergence Is Powerful:
- Leading signal -- Divergence often appears before the actual price reversal, giving traders early warning
- Works across all markets -- Forex, stocks, commodities, indices, and crypto
- Works across all timeframes -- From M1 scalping to MN position trading
- Choose from 10 different oscillators -- Each detects divergence differently for different market conditions
- Objective and quantifiable -- No subjective pattern interpretation required
Key Features:
- Scans up to 20 symbols simultaneously across 9 timeframes (M1 to MN)
- 10 independent oscillators for divergence detection
- Identifies Regular (reversal) and Hidden (continuation) divergence
- Non-repainting signals (only fires on confirmed closed bars)
- Green BUY / Red SELL arrows with yellow candle highlighting
- Multiple alert options (Popup, Sound, Email, Push)
- Interactive dashboard with one-click chart switching
- Filter and sort mode to show only active signals ranked by recency
Download the indicator:
- MetaTrader 5: Divergence Dashboard MT5
- MetaTrader 4: Divergence Dashboard MT4
IMPORTANT: The indicator uses a non-repainting methodology. Divergence is checked at bar position 1 (the most recently closed bar), ensuring that once a signal appears it will never change or disappear.
2. Understanding Divergence Types
The indicator detects four types of divergence, grouped into two categories: Regular (reversal signals) and Hidden (continuation signals).
Regular Divergence (Reversal Signals)
Regular divergence signals a potential reversal of the current trend.
| Type | Price Action | Oscillator Action | Signal |
|---|---|---|---|
| Regular Bullish | Lower Low | Higher Low | Potential upward reversal |
| Regular Bearish | Higher High | Lower High | Potential downward reversal |
Regular Bullish: Price falls further (lower low) but the oscillator shows momentum is already recovering (higher low). Expect upward reversal.
Regular Bearish: Price rises further (higher high) but the oscillator shows momentum is already declining (lower high). Expect downward reversal.
Hidden Divergence (Continuation Signals)
Hidden divergence signals a potential continuation of the current trend during pullbacks.
| Type | Price Action | Oscillator Action | Signal |
|---|---|---|---|
| Hidden Bullish | Higher Low | Lower Low | Uptrend continuation |
| Hidden Bearish | Lower High | Higher High | Downtrend continuation |
Hidden Bullish: Price holds a higher low (uptrend intact) but the oscillator makes a lower low (temporary weakness). The uptrend is likely to continue.
Hidden Bearish: Price holds a lower high (downtrend intact) but the oscillator makes a higher high (temporary strength). The downtrend is likely to continue.
Divergence Type Setting
The InpDivType parameter controls which types are detected:
| Value | Setting | Description |
|---|---|---|
| 0 | Regular Only | Detects only Regular Bullish and Regular Bearish (reversal signals) |
| 1 | Hidden Only | Detects only Hidden Bullish and Hidden Bearish (continuation signals) |
| 2 | Both (Default) | Detects all four types simultaneously |
TIP: When both Regular and Hidden divergence are detected simultaneously on the same symbol/timeframe, the dashboard displays "Reg+Hid" in the Type column (magenta). This is a particularly powerful signal.
3. The 10 Oscillators
The Divergence Dashboard offers 10 independent oscillators. Each measures a different aspect of market momentum, volume, or price behavior.
| Oscillator | Parameters | Best For |
|---|---|---|
| RSI | Period: 14 | Overbought/oversold reversals |
| MACD Line | 12, 26, 9 | Trend momentum changes |
| MACD Histogram | 12, 26, 9 | Momentum acceleration shifts |
| Stochastic | 14, 3, 3 | Cyclical market reversals |
| CCI | Period: 10 | Cyclical price movements |
| Momentum | Period: 10 | Raw momentum direction |
| OBV | Cumulative | Volume confirmation of trends |
| VWMACD | 12, 26 | Volume-enhanced momentum shifts |
| CMF | Period: 21 | Buying/selling pressure analysis |
| MFI | Period: 14 | Volume-weighted overbought/oversold |
Oscillator Categories:
| Category | Oscillators | Description |
|---|---|---|
| Price-Based | RSI, MACD, MACD Histogram, Stochastic, CCI, Momentum | Derived purely from price data; measure momentum |
| Volume-Based | OBV, VWMACD, CMF, MFI | Incorporate volume data; reveal buying/selling pressure |
TIP: Try both price-based oscillators (RSI, CCI, Momentum) and volume-based oscillators (OBV, VWMACD, CMF, MFI) to find which gives the clearest signals. Volume-based oscillators can reveal institutional money flow changes that price-based oscillators may miss.
4. Installation Guide
For MetaTrader 4
- Open MetaTrader 4 and go to File > Open Data Folder
- Navigate to MQL4\Indicators\
- Copy Divergence_Dashboard_Indicator.ex4 into this folder
- Press Ctrl+N to open the Navigator panel
- Right-click on "Indicators" and select Refresh
- Find "Divergence_Dashboard_Indicator" and drag it onto any chart
- Configure the input settings and click OK
For MetaTrader 5
- After purchasing, the indicator installs automatically via the MQL5 Market
- Press Ctrl+N to open the Navigator panel
- Expand Indicators > Market section
- Find "Divergence_Dashboard_Indicator" and drag it onto any chart
WARNING: Ensure "Allow DLL imports" is checked in the indicator properties under the Common tab. For push notifications, configure your MetaQuotes ID in the mobile app.
First-Time Setup:
- Add all symbols you want to scan to your Market Watch window first (Ctrl+M)
- Start with the default symbol list: EURUSD,GBPUSD,USDCAD,USDJPY
- If your broker uses prefixed or suffixed symbols, set InpSymbolPrefix and InpSymbolSuffix
- Begin with RSI as the default oscillator and experiment from there
5. Dashboard Overview
The dashboard displays in a separate window below your main chart with a scrollable table that updates in real-time.
Dashboard Columns
| Column | Description | Example Values |
|---|---|---|
| Symbol | Currency pair or instrument (dark green text) | EURUSD, GBPUSD, USDJPY |
| Timeframe | Chart timeframe (dark green text) | M5, M15, H1, H4, D1, W1 |
| Direction | Bullish (green, up arrow) or Bearish (red, down arrow) or --- (no signal) | Bullish, Bearish, --- |
| Type | Regular (blue), Hidden (purple), Reg+Hid (magenta), or --- | Regular, Hidden, Reg+Hid |
| Age | How many bars ago the signal appeared | 0 bars ago, 3 bars ago |
| Chart | Click to switch your chart to that symbol/timeframe | EURUSD (H1) |
Navigation:
- Use the mouse scroll wheel to scroll through rows
- Click the up/down arrow buttons on the scrollbar
- Drag the scrollbar thumb for quick navigation
- Click any Chart button to instantly switch your chart
Filter and Sort Mode
The InpFilterRecent parameter controls how data is displayed:
Default Mode (false): Shows ALL symbol/timeframe combinations in fixed order. Rows without signals display gray dashes (---).
Filtered Mode (true): Shows ONLY combinations with active divergence signals, sorted by age (most recent first). The title bar displays "Divergence Dashboard [FILTERED]".
TIP: Use Filtered Mode for a quick overview of actionable signals. Use Default Mode to see the complete status of all monitored instruments.
6. Input Parameters Reference
Dashboard Settings
| Parameter | Default | Description |
|---|---|---|
| Symbols | EURUSD,GBPUSD,USDCAD,USDJPY | Comma-separated list (up to 20 symbols) |
| Symbol Prefix | (empty) | Broker prefix (e.g., "m" for mEURUSD) |
| Symbol Suffix | (empty) | Broker suffix (e.g., ".pro" for EURUSD.pro) |
| Enable M1-MN | M5-W1 enabled | Toggle each of the 9 timeframes on/off |
| Visible Rows | 12 | Number of data rows visible in the dashboard |
| Filter Recent | false | When true, shows only active signals sorted by most recent |
Divergence Settings
| Parameter | Default | Description |
|---|---|---|
| Pivot Period | 5 | Bars on each side to confirm a swing pivot. Higher = more significant pivots. |
| Price Source | 0 (Close) | 0 = Close prices, 1 = High/Low prices for pivot detection |
| Divergence Type | 2 (Both) | 0 = Regular only, 1 = Hidden only, 2 = Both |
| Oscillator | RSI | Select from 10 oscillators via dropdown |
| Max Pivot Points | 10 | Maximum historical pivots to check for divergence matching |
| Max Div Bars | 100 | Maximum bars allowed between two divergence pivots |
| Max History Bars | 500 | Maximum bars to calculate. Larger = older signals but more computation. |
Oscillator Selection
| Value | Oscillator | Parameters |
|---|---|---|
| 0 | RSI (default) | Period: 14 |
| 1 | MACD Line | 12, 26, 9 |
| 2 | MACD Histogram | 12, 26, 9 |
| 3 | Stochastic %K | 14, 3, 3 |
| 4 | CCI | Period: 10 |
| 5 | Momentum | Period: 10 |
| 6 | On Balance Volume (OBV) | No configurable period |
| 7 | Volume-Weighted MACD | 12, 26 |
| 8 | Chaikin Money Flow (CMF) | Period: 21 |
| 9 | Money Flow Index (MFI) | Period: 14 |
Chart Arrow Settings
| Parameter | Default | Description |
|---|---|---|
| Show Arrows | true | Display BUY/SELL arrows on chart |
| Show Labels | true | Display "BULLISH DIV" / "BEARISH DIV" text |
| BUY Arrow Color | Lime | Color for bullish arrows |
| SELL Arrow Color | Red | Color for bearish arrows |
| Arrow Size | 4 | Size (1-5) |
| Arrow Gap | 0.8 | Distance from candle (ATR multiplier) |
| Label Gap | 1.8 | Text label distance (ATR multiplier) |
| BUY Arrow Code | 233 | Wingdings code for bullish arrow |
| SELL Arrow Code | 234 | Wingdings code for bearish arrow |
Alert Settings
| Parameter | Default | Description |
|---|---|---|
| Alert Title | Divergence Dashboard | Title in alert messages |
| Popup Alerts | true | On-screen popup notification |
| Sound Alerts | true | Audible alert |
| Sound File | alert2.wav | WAV file for sound alerts |
| Email Alerts | false | Email notification (requires SMTP config) |
| Push Alerts | true | Mobile push via MetaQuotes ID |
7. Chart Arrows and Visual Signals
When arrows are enabled, the indicator draws visual signals on your chart:
| Element | Appearance | Description |
|---|---|---|
| Bullish Arrow | Lime green up-arrow below candle | Placed below the low at distance controlled by Arrow Gap |
| Bearish Arrow | Red down-arrow above candle | Placed above the high at distance controlled by Arrow Gap |
| Bullish Label | "BULLISH DIV" in lime green bold text | Below the bullish arrow |
| Bearish Label | "BEARISH DIV" in red bold text | Above the bearish arrow |
| Yellow Candle | Entire candle highlighted in yellow | The signal bar is drawn in yellow for visibility |
Non-Repainting Behavior: Arrows are placed only on bars where a confirmed divergence state change occurred. Because divergence is checked at bar position 1 or later (never bar 0), arrows never appear on unfinished candles and never disappear once placed.
WARNING: Chart arrows only appear on the current chart's symbol and timeframe, and only if that combination is included in the dashboard's scan list. Click the Chart button in the dashboard to navigate to the correct chart.
8. Alert Configuration
Alerts fire when a new divergence signal appears or when the direction changes for a symbol/timeframe combination.
| Alert Type | Parameter | Default | Description |
|---|---|---|---|
| Popup | Popup Alerts | true | Standard MT4/MT5 popup dialog |
| Sound | Sound Alerts | true | Plays audio file specified in Sound File |
| Email Alerts | false | Requires SMTP configuration | |
| Push | Push Alerts | true | Requires MetaQuotes ID |
Alert Message Format:
Divergence Dashboard: EURUSD BULLISH Regular Divergence on H1 (RSI)
The message includes: Alert Title, Symbol, Direction, Type, Timeframe, and Oscillator name.
Alert Cooldown: Alerts have a cooldown period equal to one bar of the signal's timeframe to prevent duplicate notifications.
Setting Up Email Alerts
- Go to Tools > Options > Email
- Check Enable
- Enter SMTP server, port, login, password, and destination email
- Click Test to verify
Setting Up Push Notifications
- Install the MetaTrader app on your phone
- Go to Settings > Messages and copy your MetaQuotes ID
- In desktop MetaTrader: Tools > Options > Notifications
- Enter your MetaQuotes ID and enable notifications
9. Trading Strategies
Strategy 1: Single-Oscillator Entry
The simplest approach -- take a trade when any oscillator shows divergence on a timeframe you trust.
| Component | Details |
|---|---|
| Signal | Dashboard shows Bullish or Bearish divergence |
| Entry | Open of the next candle after the signal bar closes |
| Stop Loss | Beyond the recent swing extreme |
| Take Profit | 1:1.5 or 1:2 risk-reward ratio |
| Timeframes | H1 and above for better reliability |
Strategy 2: Cross-Oscillator Verification
Verify the signal by switching between oscillators before trading.
| Component | Details |
|---|---|
| Signal | Dashboard shows divergence. Switch to 1-2 other oscillators and check if the same signal appears. |
| Entry | After verification with at least one additional oscillator |
| Stop Loss | 1.5x ATR(14) beyond the signal bar's extreme |
| Take Profit | 2x the stop loss distance (1:2 risk-reward) |
| Risk | Maximum 1-2% of account equity per trade |
Strategy 3: Multi-Timeframe Alignment
Look for the same divergence direction on multiple timeframes.
| Component | Details |
|---|---|
| Signal | Same symbol shows same direction divergence on two or more timeframes (e.g., EURUSD bullish on both H1 and H4) |
| Entry | Enter on the lower timeframe signal; use higher timeframe for confirmation |
| Stop Loss | Below the lower timeframe's recent swing low (bullish) or above swing high (bearish) |
| Take Profit | Next major support/resistance on the higher timeframe |
TIP: In Filtered Mode, the same symbol will appear in multiple rows if it has signals on different timeframes -- look for these clusters.
Strategy 4: Divergence + Support/Resistance
Combine divergence with key price levels for maximum confluence.
| Component | Details |
|---|---|
| Signal | Bullish divergence at a known support level, or bearish divergence at known resistance |
| Entry | After signal confirms, enter with limit order near the S/R level |
| Stop Loss | Just beyond the support/resistance level |
| Take Profit | Next opposing S/R level, or 1:2 to 1:3 risk-reward |
Risk Management Guidelines
- Risk no more than 1-2% of account equity per trade
- Always use a stop loss -- divergence signals can fail, especially on lower timeframes
- Higher timeframes (H4, D1, W1) produce more reliable signals than M5 or M15
- Switch between oscillators to compare -- if multiple detect the same divergence, the signal is stronger
- Wait for the signal bar to fully close before entering
- Combine divergence with other technical tools (trendlines, MAs, candlestick patterns) for best results
10. Switching Between Oscillators
How to Switch
- Open indicator settings (right-click > Properties, or double-click in Navigator)
- Find the Oscillator dropdown in the Inputs tab
- Select a different oscillator from the 10 options
- Click OK -- the dashboard recalculates using the new oscillator
Which Oscillator for Which Market
| Market Condition | Recommended | Why |
|---|---|---|
| Trending | MACD, MACD Histogram, Momentum | Track trend momentum, effective at detecting exhaustion |
| Range-bound | RSI, Stochastic, CCI | Bounded oscillators for overbought/oversold reversals |
| Volume-driven | OBV, VWMACD, CMF, MFI | Reveal institutional money flow |
| Getting started | RSI, MACD | Widely used, effective across most conditions |
Comparing Signals Across Oscillators
A powerful technique:
- Spot a divergence signal with your current oscillator
- Note the symbol, timeframe, and direction
- Switch to a different oscillator and check the same pair
- If the same divergence appears, the signal carries more weight
- Try both a price-based and volume-based oscillator for the broadest view
TIP: Start with RSI. Once comfortable, experiment with others to find which produces the clearest signals for the pairs and timeframes you trade most.
11. Troubleshooting
Dashboard Not Showing:
- Check the "Experts" tab at the bottom of MetaTrader for error messages
- The indicator opens in a separate window -- resize the separator if too small
- Restart MetaTrader and re-apply the indicator
No Symbols Found / Empty Dashboard:
- Add target symbols to Market Watch first (Ctrl+M)
- Check that symbol names match your broker exactly
- Configure Symbol Prefix/Suffix if your broker uses non-standard names
No Divergence Signals:
- Increase Max History Bars (try 500 or 1000)
- Decrease Pivot Period (try 3 instead of 5)
- Set Divergence Type to 2 (Both) to detect all types
- Try a different oscillator -- some detect divergence more readily on certain pairs
- Divergence may genuinely not be present -- this is normal
Too Many Signals / Noisy:
- Increase Pivot Period to 7 or 8 for more significant pivots
- Reduce Max Div Bars to ignore widely spaced divergences (try 50)
- Disable lower timeframes (M1, M5, M15)
- Set Divergence Type to 0 (Regular only)
Arrows Not Showing:
- Verify Show Arrows is set to true
- Arrows only appear if the current chart's symbol AND timeframe are in the scan list
- Click the Chart button in the dashboard to navigate to the right chart
Performance Issues:
- Reduce number of symbols
- Disable unnecessary timeframes (especially M1)
- Decrease Max History Bars (try 300)
Alerts Not Firing:
- Check alert parameters are set to true
- For sound: verify the WAV file exists in MT4/MT5's Sounds folder
- For email: verify SMTP config in Tools > Options > Email
- For push: verify MetaQuotes ID in Tools > Options > Notifications
12. Frequently Asked Questions
Q: Does the indicator repaint? A: No. Divergence is always checked at bar position 1 (last closed bar), never bar 0. Once a signal appears, it will never change or disappear.
Q: What is the difference between Regular and Hidden divergence? A: Regular divergence signals potential reversals. Hidden divergence signals trend continuation during pullbacks. Both are valuable -- Regular for catching turning points, Hidden for riding existing trends.
Q: Which oscillator should I use? A: Start with RSI. For trending markets try MACD or Momentum. For ranges try Stochastic or CCI. For volume analysis try OBV, CMF, or MFI. Switch between oscillators on the same pair to compare signals.
Q: Can I use this on stocks, indices, or crypto? A: Yes. Any symbol available in MetaTrader works. Note that volume-based oscillators use tick volume for Forex, which is a proxy for real volume.
Q: What does "Reg+Hid" mean? A: Both Regular and Hidden divergence detected simultaneously. This is a particularly strong signal because both reversal and continuation dynamics are in play.
Q: How many symbols can I scan? A: Up to 20 symbols simultaneously. With 9 timeframes, that is 180 combinations. Start with 4-8 symbols for optimal performance.
Q: What timeframes work best? A: Higher timeframes (H4, D1, W1) produce more reliable signals. H1 is a good middle ground for intraday. The dashboard lets you confirm signals across timeframes.
Q: Can I use a custom sound file? A: Yes. Place your .wav file in MetaTrader's Sounds folder and set the Sound File parameter to the filename.
Support & Contact
| Contact Method | Details |
|---|---|
| support@forexobroker.com | |
| Website | www.forexobroker.com |
| MQL5 Market | Use the Comments section on the product page |
When contacting support, please include: MetaTrader version, broker name, description of the issue, screenshots, and your indicator settings.
Download:
- MetaTrader 5: Divergence Dashboard MT5
- MetaTrader 4: Divergence Dashboard MT4
Risk Disclaimer
HIGH RISK WARNING: Trading foreign exchange (Forex), CFDs, and other financial instruments on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you.
The possibility exists that you could sustain a loss of some or all of your initial investment. You should not invest money that you cannot afford to lose.
NO GUARANTEE OF PROFIT: Past performance is not indicative of future results. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this guide.
DEMO ACCOUNT RECOMMENDATION: We strongly recommend testing any trading strategy or indicator on a demo account before trading with real money.
Divergence Dashboard Indicator v1.00 Copyright 2026 Forexobroker
