Spearman Divergence Indicator
Spearman Divergence Generation III is a modern indicator with complex mathematic algorithm (BJF Trading Group innovation). You will see divergences on the chart and indicator. Arrows are painted above/below the open bar and not in the past. You can see when actually you can trade. It is never too late! Signals are based on closed bars, so the arrows above/below the open bar never disappear.
MetaTrader 4 Indicator Spearman Divergence - Short explanation
MT4 Indicator Spearman Divergence indicates fractal divergence by Spearman indicator. When divergence appears between Spearman and the price, it indicates a high probability that the current trend will finish soon. A signal to buy appears when a new Low fractal is formed below the previous one and a corresponding Spearman value is higher than the previous one. A signal to sell appears when a new Up fractal is formed above the previous one and a corresponding Spearman value is lower than the previous value. The indicator has a lot of customizable settings.