• Overview
  • Reviews (4)
  • Comments (15)
  • What's new

Multi oscillator divergence MT5

The indicator identifies when a divergence occurs between price and an oscillator/indicator. It identifies both regular and hidden divergences. It has a RSI filter option which makes it possible to filter out only the strongest setups.

Features

  • Can detect divergences for the following oscillators/indicators: MACD, OsMA, Stochastics, RSI, CCI, RVI, Awesome, ADXComposite index, ATR, OBV, MFI and Momentum. Only one oscillator/indicator can be selected.
  • Draws solid lines for regular/classical (potential reversal) divergences and dashed lines for hidden (trend continuation) divergences. The lines are drawn on the chart as well as in the indicator window.
  • Sends an alert when a divergence has been detected.
  • Contains 2 buffers which a developer can use with the iCustom() function in an Expert Advisor (EA). Buffer index 0 for bull signals and index 1 for bear signals. The value returned is the indicator value. The RSI filter (if enabled) will not work. You will have to build you own RSI filter in the EA if you plan to use it. There is a code example in the end of the blog on how to use iCustom().


Input parameters

    Please find the description and explanation of the input parameters here.


    Please also check out my other divergence products:

    Divergence dashboard

    Double divergence scanner

    Robby Wijaya
    146
    Robby Wijaya 2020.04.14 20:30 
     

    This indicator are very very great and smart, its catch almost 90% of divergence form but when you know how to use it properly for scalping strategy then this indicator I can say Perfect 100% !! Thanks Jan you are ROCK , GBU

    Hasan Yildirim
    785
    Hasan Yildirim 2019.12.30 14:28 
     

    User didn't leave any comment to the rating

    Erik Vikanes Hansen
    201
    Erik Vikanes Hansen 2019.08.22 12:02 
     

    This indicator seems to be very promising, where it gives reliable entry signals and one can choose from a variety of different oscillators. I have been using it for a short time and so far I am very happy. Jan the developer, is also very friendly and easy to get in touch with. He helps out with his experience with regards to both choosing the best oscillator and preferred settings for different instruments. So far I would recommend this indicator. It is very easy to play around with all the different oscillators and settings for backtesting.

    Thomas
    238
    Thomas 2019.06.11 14:37 
     

    I can't tell how amazing this Indicator is. In combination with a few different setups it is a weapon on GBP/USD. Really, really great. Thank you Mr. Flodin.

    Version 2.3 2020.02.04
    - added an option to embed a custom alert text into the alert
    - upon request I have added the possibility to scan for "early" divergences. This means that the alert will come directly upon candle open instead of waiting for the slope in the indicator to change direction (candle shift 1 or 2). Candle shift must be set to 0 for this to work. Please be aware though that this will lead to more false signals (repaintings)
    Version 2.2 2020.01.23
    - minor bug fixes
    Version 2.1 2019.11.01
    - added support for MFI and Momentum divergences
    - added the possibility to show MACD main line as histogram instead of a line (same as in the Metatrader native MACD indicator)
    Version 2.0 2019.09.19
    - added possibility to select OBV volume type
    Version 1.9 2019.09.19
    *** Please always make a backup of the existing indicator (the .ex4 file) before you make the update ***

    - added support for OBV, ATR and Composite Index divgergences
    - added an option to select if divergence candle must close at least xx % away from the high/low price
    Version 1.8 2019.08.21
    - added an option to use strict mode for price or indicator levels. When this has been enabled then the levels between the both extremums are not allowed to be higher/lower then the first or last extremum candle or indicator level.
    Version 1.7 2019.08.15
    - fixed an error for the level lines in the indicator window
    Version 1.6 2019.08.14
    - added ADX divergence
    Version 1.5 2019.06.13
    - corrected an issue with the RSI filter. Alerts came even if RSI was out of range.
    Version 1.3 2019.02.18
    - added RSI filter option
    - added the possibility to disable scanning of bullish or bearish divergences
    Version 1.2 2018.08.16
    - added possibility to set custom line level values in the indicator window for Stochastics and RSI
    Version 1.1 2018.06.27
    - added support for iCustom with two buffers. Buffer index 4 for bull signals and index 5 for bear signals. The shift is always 0. The value returned is a close price of the candle where the divergence occured.