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Double divergence scanner MT5

This multi oscillator, multi time frame and multi symbol indicator identifies when a divergence occurs between price and one, two or three indicators/oscillators. It identifies both regular/classical (trend reversal) and hidden (trend continuation) divergences. It has RSI and MA trend filter options which makes it possible to filter out only the strongest setups. The indicator can write the signals to a file which can be used by an Expert Advisor for auto tradingFor instance  this product.

It can be used in 3 ways:

  1. Set both main and second/third indicator/oscillator and leave the default value 'current' as Second timeframe. By doing this you will get alerts only when there is a double divergence on each timeframe which you have selected.
  2. Set both main and second/third indicator/oscillator and set the time frame for second/third divergence to for instance H4, or set 'One time frame higher' to True. By doing this you will only get alerts when there is a second/third divergence also on the H4 time frame or on one time frame higher than the main divergence.
  3. Set only main indicator/oscillator. By doing this you will get alerts when there is a divergence on the selected indicator/oscillator.


  • Can detect divergences for the following indicators/oscillators: MACD, Stochastics, OsMA, RSI, CCI, Awesome (AO), ADX, ATR, OBV, MFI, Momentum and Composite Index.
  • 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.

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.

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

Please note that due to the multifunctionality neither buy and sell advice nor lines and arrows will be drawn on the chart.


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

Please also check out my other divergence products:

Divergence indicator

Divergence dashboard

Germano 2020.01.23 14:49 

For those who wish to monitor divergences between market prices and one or more indicators of their preference, I would recommend "Double divergence scanner". It is an excellent tool, valuable for searching, fast and accurate in alerts which, as suggested by its maker, can be conveniently displayed using "Multi oscillator divergence indicator". As well as complimenting the efficiency of the scanner, I would also like to congratulate Jan on his patience and zeal in providing assistance. Thank you!

lilychu1911 2019.09.23 09:38 

This indicator works perfect for me. Thank you.

Devonish 2019.04.09 09:12 

A very useful tool; use in conjunction with your existing strategy and as always, look for supporting reasons to confirm a signal.

A very helpful programmer.

faithdefender 2019.02.13 23:02 

I am still learning how to use this, but I wanted to say it is like all of the other indicators he creates; I own several others. They do what they say they are going to do and he charges a fair price for them. Thank you for understanding many of us are new to Forex and very poor. With your help we can afford important indicators to help move us along. Thank you Jan

Version 1.8 2019.11.06
- fixed a bug when having the 'One time frame higher' parameter set to True.
- added the possibility to write the signals in the panel to a file. Could for instance be used by an Expert Advisor for automatical trading.
- added the possibility to set a custom code page to support unicode extended characters (pound sign etc.) in symbol names.
Version 1.7 2019.11.03
- added support for checking a higher time frame also if 'Enable single divergence' has been set to True.
Version 1.6 2019.10.28
- fixed a bug. The indicator was scanning only for the main divergence even if double and triple was enabled
Version 1.5 2019.10.28
- added scanning for MFI, Composite index and Momentum divergences
- addded the possibility to scan also for triple divergence
Version 1.4 2019.10.14
- added scanning for ATR and OBV divergences
- added support for strategy testing
Version 1.3 2019.08.14
- added the possibility to set a fixed time frame for the trend filter
- added scanning for ADX divergences
Version 1.2 2019.06.01
- corrected an issue with Awesome text not beeing visible in the panel list