Fisher Divergence detector MultiTimeFrame MT4
This is the multi-time frame Fisher Divergence indicator for MetaTrader 4, with signal arrows and a Signals panel which is freely movable showing the last signals and their time in color.
The indicator draws some lines based on signal time. On the time frames below H4, the indicator scans for H4 divergence signals and draws it on chart with thick trend lines, and also it draws arrows for them.
And also it scans the current time frame and draws a line at divergence location and places signal arrows. The thickness of the lines for current time frame is thin.
The indicator draws 2 types of divergence lines:
- Solid lines: strong signals (writing buy or sell in signal panel)
- Dash dot lines: Signals that need confirmation. (check your other indicators too) ( writing buy-wait or sell-wait words in signals panel.)
How To Use This Indicator
Set Fisher Period. Select if you want all candles to be scanned or only scan peaks in both candles and fisher oscillator.
I like the Signals syncing between M15 and H4 periods the most. But you can use it on every time frame you like.
When the H4 divergence shows buy or sell signals and M15 confirms it too, it will be a good trading signal.
When it shows buy-wait or sell-wait signals its a weak signal but you can check and take those trades too.
Also the signals panel can be moved freely or minimized so that it doesn't take too much space of your charts.
Never forget money management and do not trade over sized for your accounts.
- Fisher Period - default setting is 10.
- Scan mode - Scan all candles / or scan peaks only. Select if you want to scan all candles (more signals, less accurate) or scan only peaks when both indicator and oscillator show a peak (less signals, more accurate)
- Sell arrow color
- Buy arrow color
Also added columns position setting.
Also added font name and font size settings.
Version 706.091 : 2017.06.09-Performance optimization for backtests.