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Indicators

Price_Volume_Divergence - indicator for MetaTrader 5

Scriptor | English Русский Español

Views:
392
Rating:
votes: 8
Published:
2019.02.07 09:00

Indicator Price volume divergence compares the sizes and volumes of the current bar and of the preceding bar and, provided that there is a difference between them, places signal pointers.

It has five adjustable parameters:

  • Use alerts - use alerts
  • Send mail - send email notifications
  • Send push-notifications - send push notifications to your mobile device
  • Applied volume - volume used by the indicator
  • Show volumes bars - show volumes on the price chart

Calculations:

  • If the size of the current candle exceeds that of the preceding one and the volume of the current candle is smaller than that of the preceding one,
    then this is considered to be the growing divergence and the green signal pointer is place on the candle High
  • If the size of the current candle is smaller than that of the preceding one and the volume of the current candle exceeds that of the preceding one,
    then this is considered to be the falling divergence and the red signal pointer is placed on the candle Low

It should be understood that signal pointer do not indicate the dierection of opening a position; they just indicate the type (growing/falling) of the divergences among the sizes and volumes of the current candle and the preceding candle.

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/23533

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