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Multi oscillator divergence scanner

This multi oscillator, time frame and symbol indicator identifies when a divergence occurs between price and an oscillator/indicator. 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.

Please check out my other divergence products:

Divergence indicator

Double divergence scanner

Divergence EA

Divergence dashboard


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 time frame, 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 the blog for explanation.

It is enough to place the indicator on one chart and you will receive an alert from any symbol and any time frame of your choice.


Please note that due to the multi-time frame functionality, this indicator will not draw lines and arrows or sell and buy advice on the chart.

I recommend to put the indicator on a EURUSD M5 chart, preferable a clean chart without any other indicators or Expert Advisors on it.


Parameters

Parameters marked with an asterisk (*) in the beginning are explained more in detail in the blog.

  • Oscillator to use
  • 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
  • * Divergence candle shift (must be >0)
  • Bars to check (divergence depth)
  • * Amount of signals to show in the panel: Default is 15. 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.
  • * Panel width
  • * Template name
  • Fast MA: Default is 12 (use 5 for Awesome).
  • Slow MA: Default is 26 (use 34 for Awesome).
  • Signal MA (not used with Awesome): Default is 9.
  • K: Default is 12.
  • D: Default is 3.
  • Slowing: Default is 3.
  • Stochastics Price type
  • Enable stochastics OB/OS filter (both regular and hidden)
  • Overbought and oversold levels
  • Period: Default period is 10.
  • Enable pin bar filter: True or False.
  • Combine with RSI filter (RSI must be enabled below): True or False.
  • * Minimum candle size in points
  • 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 pin bars: True or False.
  • 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.
  • RSI overbought and oversold levels for regular and for hidden divergences: 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: 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.
  • Time frames: Set to true for each time frame you would like to monitor.
  • * Use symbols from Market Watch window instead
  • Alerts: Set to true for each alert type you would like to receive.


Dmitry Karagusov
375
Dmitry Karagusov 2019.03.05 07:46 
 

Indicator like: a lot of different filters for conservative and aggressive trading, multi-timeframe, can scan one pair and maybe all, does not load the processor. Quality product. Responsive author.

Lev Vladimirovic Marushkin
1468
Lev Vladimirovic Marushkin 2018.12.22 16:13 
 

Top Support. Top Products. Low price. Buying from Jan will always make you happy. Thank you Jan!! :)

iman
187
iman 2018.11.27 08:34 
 

I have got to say, I regret buying divergence indicator from ex-Wall Street guy that does not have push notification alert, it costed me more than double too! This is because that guy has more reviews than you. Yours however is much controlable and has hidden divergence feature However, what I am about to say next could be a good idea for you to develop. For now, I have to set each indicator in a single chart to see if three of them give the same divergence warning either hidden or regular on various designated timeframe however just another idea is if you can make them detect each divergence individually and put up some kinda table with all of the wanted pair as the top row and timeframe as the column for a defined set of RSI, CCI, MACD, Stoch, etc. (I know, too many will clutter the chart). When divergence occur it will populate the appropriate pair and which time frame it occurs and whether hidden or regular. The existing extra in the chart is excellent touch which the ex-Wall Street guy divergence probably didn't think of that. Here you can make some sort of log to say that this warning on this pair occur 5,10, 60,235 minutes ago. Now, user then can scan the table and check how long the warning is while in a glance user can see if each oscillator agrees to the divergence and in which time frame. I know someone else has built the oscillator indicator with those table however theirs do not consider divergence, just crossing line in overbought/oversold line. That's my 2 cent, however it is still a great indicator.

4example
99
4example 2018.02.23 23:56 
 

Hands down. one of the best coders. And one of the best products. It literally sifted my work from analyzing and searching to just visually confirming my strategies. Tones of hours saved.The developer is very fast in responding to any queries and ready to help. THANK YOU!

rafaelmercadop
93
rafaelmercadop 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
502
Maceo Plex 2017.12.18 11:31 
 

Very helpful and the support is fast from the developer.

fabbry72
1359
fabbry72 2017.11.01 22:01 
 

Very good indicator to catch divergence.

Jan is always one of the best developer on MQL5.

Version 2.2 2019.02.17
- added an option to use symbols from the Market Watch window instead of the symbols written in the Symbols parameter
- added the possbility to use separate RSI filter values for hidden divergences
Version 2.1 2019.02.08
- added a possibility to use stochastics overbought/oversold filter for stochastics divergences
- added the possibility to set which stochastics price field to use (Low/High or Close/Close)
Version 2.0 2018.11.26
- added the possibility to set the divergence depth used for scanning
- it will now be possible to set the candle shift where to search for the last extremum
- improved support for the strategy tester
- overall performance improvements
Version 1.9 2018.05.18
- correted an issue with absence of alerts on the D1 time frame under some circumstances
Version 1.8 2018.05.14
- added support for strategy testing
- added possibility to set the width of the panel
Version 1.7 2018.04.19
- corrected the RSI logic for regular divergences
- added the possibility to use a custom sound file for alerts
Version 1.6 2018.04.06
- corrected the alert time in the panel
- added possibility to use a custom chart template when opening a chart from the panel
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