• Overview
  • Reviews (3)
  • Comments (40)
  • What's new

Multi oscillator divergence scanner

This multi oscillator, timeframe and symbol indicator identifies when a divergence occurs between price and an oscillator. It identifies both regular/classical (trend reversal) and hidden (trend continuation) divergences. It has moving average, RSI, pinbar and engulfing filter options which makes it possible to filter out only the strongest setups.


Features

  • Can detect divergences for the following oscillators: MACD, OsMA (Moving average of Oscillator), Stochastics, RSI, CCI, RVI and Awesome. Only one oscillator can be selected.
  • Can monitor all symbols visible in your Market Watch window at the same time. Apply the indicator to just one chart and instantly monitor the entire market.
  • Monitors every timeframe, from M1 to MN, and sends you a real-time alert when a divergence has been identified.
  • The indicator includes an interactive panel. Please see separate screenshot for explanation.

You can place the indicator on, for instance, EURUSD M5 chart and receive an alert from any symbol and any timeframe of your choice.

Please note that due to the multi-timeframe functionality, this indicator is not supported in the strategy tester. Please also note that due to the same reason, lines and arrows will not be drawn on any chart.


Parameters

  • Oscillator to use: Default is CCI.
  • Scan for bullish divergences: True or False.
  • Scan for bearish divergences: True or False.
  • Scan for hidden divergences: True or False.
  • Scan for regular divergences: True or False
  • Wait for candle close for alert: True or False. When set to false, you will get the alert earlier and will be able to catch the movement earlier. On the other hand, the signal is less reliable.
  • Amount of signals to show in the panel: Default is 10. But you can set it to more if it will fit on your chart. The signals will be shown in descending order, i.e. the latest signal first.
  • Disable panel: True or False
  • Fast MA: Default is 12 (5 for Awesome).
  • Slow MA: Default is 26 (34 for Awesome).
  • Signal MA (not used with Awesome): Default is 9.
  • K: Default is 5.
  • D: Default is 3.
  • Slowing: Default is 3.
  • Period: Default period is 14.
  • Enable pinbar filter?: True or false.
  • Combine with RSI filter (RSI must be enabled below): True or false.
  • Minimum candle size in points: Makes it possible to filter out the smallest pinbars. If you, for instance, trade M1 and M5, you could set it to 20 points. Please be aware though that this setting is valid for all timeframes. For this reason this setting will not be very useful if you are trading on all timeframes.
  • Minimum candle body size % (0 = any body size): The scanner will filter out Dojis by default. Default is 0.
  • Minimum percent for tail: Default is 50. If you would like a larger tail, you can set it to for instance 60. It will give fewer signals but higher quality.
  • Only strict pinbars: True or false. A strict Pinbar means that the Pinbar must have another color than the previous bar and that the Pinbar's high must be higher then the previous bar's high and finally that the Pinbar's body must be within the range of the previous bar.
  • Enable engulfing filter: True or False.
  • Combine with RSI filter (RSI must be enabled below): True or False.
  • Min. engulfing candle body size % (0 = any body size): A higher percentage (larger body) will give higher quality signals.
  • Min. engulfing candle size in points (0 = any size): Only Engulfing candles (second candle) larger or equal than this size will give an alert.
  • Max. engulfing candle size in points (0 = any size): Only Engulfing candles (second candle) smaller or equal than this size will give an alert.
  • Enable RSI for regular divergences: True or False.
  • Enable RSI for hidden divergences: True or False. It is worth to notice that a hidden divergence usually does not very often reach the RSI levels.
  • RSI overbought and oversold levels: The divergence candle must form above/below these levels in order to be valid.
  • RSI Period: Default period is 14.
  • RSI apply to price: RSI level is calculated from this setting.
  • Enable MA filter: True or False
  • MA period
  • Bar shift: Default is 1. MA will be calculated on this bar.
  • MA method
  • MA price type
  • Use divergence time frame: True or False.
  • MA time frame (if set to false above): Here you can set a time frame which will be used for signals from all time frames.
  • Symbols to scan: Here you will put all symbols you would like to monitor. Every symbol must be put in the exact way as it is visible in the Market Watch window and separated with a comma and without spaces.
  • Symbols to scan: Here you will put all symbols you would like to monitor. Every symbol must be put in the exact way as it is visible in the Market Watch window and separated with a comma and without spaces.
  • Timeframes: Set to true for each timeframe you would like to monitor.
  • Alerts: Set to true for each alert type you would like to receive.
rafaelmercadop
34
2018.01.18 11:39 
 

Great indicator and the programmer is always available to listen and help you. And as some other review here posted, this indicator is a time saver!

Maceo Plex
528
2017.12.18 11:31 
 

Very helpful and the support is fast from the developer.

fabbry72
1337
2017.11.01 22:01 
 

Very good indicator to catch divergence.

Jan is always one of the best developer on MQL5.

Version 1.5 - 2018.02.16
- added price level to the on-screen, push and mail alerts
- added time of divergence alert to the panel
Version 1.4 - 2018.01.12
- bug fix in the Awesome oscillator
Version 1.3 - 2017.12.29
- added MA filter option
Version 1.2 - 2017.12.22
- Added the Awesome oscillator
- Possibility to disable scanning for regular divergences
- Possibility to disable the panel
Version 1.1 - 2017.09.19
- added pinbar/engulfing filters