MT4 Macd Divergence Scanner

This indicator provides an efficient way to monitor multiple currency pairs and timeframes simultaneously. By visually displaying price-MACD divergences in a structured, easy-to-read table, it allows traders to detect potential market turning points without constantly switching between charts.

Divergences can signal either bullish or bearish momentum shifts. For instance, a bearish divergence occurs when the price reaches a new high, but the MACD fails to confirm this with a corresponding higher high. Conversely, a bullish divergence emerges when the price forms a lower low, while the MACD sets a higher low.

In the indicator’s table, each instrument (e.g., EURUSD, GBPUSD) is listed vertically on the left, and the selected timeframes (e.g., M5, H1, D1) are arranged horizontally along the top. A simple dot indicates no detected divergence; when an “UP” or “DN” (down) label appears, it highlights a potential trading signal—green “UP” suggesting a possible buy opportunity and red “DN” indicating a potential sell. Upon detection, the indicator can also send an alert via pop-up, email, or push notification, depending on your chosen settings. As always, it’s wise to confirm any trading signal with additional methods such as higher timeframe analysis, moving averages, or key support and resistance levels.

This versatile tool offers two scanning modes: one focuses solely on the current chart’s symbol, while the other scans through a custom symbol list. If you opt to scan multiple instruments simultaneously, simply enter each symbol name separated by commas (without spaces) in the settings panel. In such a setup, placing the table in a separate chart window may provide a clearer overview of the entire market landscape.