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momentum_diversign.mq5 (10.06 KB) view

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Original author:

olegok83

A semaphore signal indicator that uses divergence between two Momentum oscillators based on extreme points of the last five bars.

The signal is formed when there is divergence between two oscillators (fast and slow) and an appropriate candlestick combination, as shown below:

Fig. 1. Signal generation algorithm

Fig. 2. The Momentum_DiverSign indicator

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/12680

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Momentum_DiverSign - indicator for MetaTrader 5