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  • Reviews (5)
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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. Combined with your own rules and techniques, this indicator will allow you to create (or enhance) your own powerful system.

The indicator can write the signals to a file which can be used by an Expert Advisor for auto trading. For 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.

Features

  • 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.


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 where the indicator has been installed. For this purpose you need to create a chart template with my free divergence indicator.

It is highly advisable to put the indicator on a clean chart without any other indicators or Expert Advisors on it.


Input parameters

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


Please also check out my other divergence products:

Divergence indicator

Divergence dashboard

Divergence Expert Advisor (free)


Reviews 5
croxall100
392
croxall100 2020.08.11 16:57 
 

Very useful indicator and saves a tremendous amount of time once its set your your own requirements. Jan is extremely helpful and patient in explaining the set up. Would definitely recommend this indicator to any trader who looks for Divergence to support the trade entry.

Germano
53
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
59
lilychu1911 2019.09.23 09:38 
 

This indicator works perfect for me. Thank you.

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You want to become a constantly profitable 5-star forex trader? 1.  Read the basic description of our simple trading  system   &  and it's major strategy update in 2020   2.   Send a screenshot of your purchase  to get your personal invitation to our exclusive trading chat FX Trend displays the trend direction, duration, intensity and the resulting trend rating for all time frames in real time. You'll see at a glance at which direction the trends are running, how long they last and how powe
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WaveTheory Fully automatic calculation
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Kaijun Wang
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PZ Cup and Handle MT5
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Arturo Lopez Perez
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LT Easy Market
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Thiago Duarte
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PZ Wolfe Waves MT5
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Indicador Taurus All4 MT5
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Fabio Oliveira Magalhaes
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LT Exaustion Oscillator
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Thiago Duarte
As it name implies, this is an exaustion oscillator. However, you may wonder: what differs you from others oscillators like RSI, Stochastic, CCI etc? The difference is that ours is more powerful and accurate ! Your oscillator filters the nois e made by other oscillators, and shows you only the exact moment to enter the trade. Of course, using it alone, like any other indicator, has its risks. Ideally, reconcile it with technical analysis and/or others indicators. Signals emitter for paid version
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BW Dance
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Andrey Dyachenko
BW Dance - Bill Williams Trading Chaos Signal MTF Indicator for MetaTrader 5 !!! This indicator is not a trading system !!! This is only a convenient tool for receiving signals of the Bill Williams trading system in visual and sound mode The main idea of ​​the indicator: display current signals of the BW system on the right edge of the chart, according to the principle HERE and NOW output signals in three ways: next to the price scale under / above price bottom of the chart - opposite
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Color Candles Identify the Major Trend
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Ziheng Zhuang
The indicator includes two parts. Part I: Color Candles Show the Major Trend Color candles is to identify the market state by color candlesticks. As shown in the screenshots, if the color is Aqua, the market is in a state when you should place long orders or exit short orders. If the color is Tomato, it is the time to place short orders or exit long orders. If the color is changing, it is better to wait for its completion (until the current bar is closed). Part II: Draw bands The inner bands is
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All Harmonics 26
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Alexey Isavnin
Harmonic patterns are characteristic series of price movements with respect to Fibonacci levels, which statistically precede price reversals. This indicator searches for harmonic patterns. It is capable of recognising 26 classical and non-classical harmonic patterns : Classical Gartley Butterfly Alternate Butterfly Bat Alternate Bat Crab Deep Crab Three Drives Non-classical Shark Alternate Shark Cypher 5-0 Anti Gartley Anti Butterfly Anti Alternate Butterfly Anti Bat Anti Alternate Bat Anti Crab
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Jan Flodin
This  multi time frame and multi symbol  divergence dashboard indicator sends an alert when one or two different divergences have been identified on several time frames.  It can be used with all time frames from M1 to MN . Max. 9 time frames can be shown in the dashboard at the same time. It is possible to enable moving average or RSI trend filter to filter out only the strongest setups. This free version is limited to EURUSD, GBPUSD and USDJPY and without the option to send mail and push alerts
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This  multi time frame and multi symbol  indicator sends an alert when one or more trend reversal candle patterns have been identified on several time frames. It can be used with all time frames from M5 to MN. It is possible to enable moving average or RSI trend filter to filter out only the strongest setups. This free version is limited to EURUSD, GBPUSD and USDJPY  and without the option to send mail and push alerts . The unlimited paid version can be found   here . Features Can detect the
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Jan Flodin
This  multi time frame and multi symbol  divergence dashboard indicator sends an alert (paid version only) when one or two different divergences have been identified on several time frames. It can be used with all time frames from M5 to MN. It is possible to enable moving average or RSI trend filter to filter out only the strongest setups. This free version is limited to EURUSD, GBPUSD and USDJPY and has some other limitations such as no support for mail and push alerts. The unlimited paid versi
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croxall100
392
croxall100 2020.08.11 16:57 
 

Very useful indicator and saves a tremendous amount of time once its set your your own requirements. Jan is extremely helpful and patient in explaining the set up. Would definitely recommend this indicator to any trader who looks for Divergence to support the trade entry.

Germano
53
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
59
lilychu1911 2019.09.23 09:38 
 

This indicator works perfect for me. Thank you.

Devonish
1623
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
831
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

Reply to review
Version 2.1 2020.09.13
*** Please always make a backup of the existing indicator (the .ex5 file) before you make an update ***

- I have changed the logic of detecting divergences so that more divergences will be detected. The new logic will allow divergences even if there are additional indicator extremums (top/bottoms) between the 2 already existing extremum points. Please be aware of the fact that the new logic also comes with a performance cost. Something which will be more visible on slower computers.
Version 2.0 2020.06.09
Recompiled (recommended by Metaquotes as of June 05,2020) to the new MT5 version 2485: https://www.mql5.com/en/forum/342948
Version 1.9 2020.06.04
- 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.
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