• Overview
  • Reviews (8)
  • Comments (32)
  • What's new

Multi oscillator divergence FREE

The indicator identifies when a divergence occurs between price and an oscillator. It identifies bullish and bearish hidden or regular (classical) divergences.

Features

  • Can detect divergences for the following oscillators: MACD, OsMA (Moving average of Oscillator), Stochastics, RSI, CCI, RVI, Awesome (AO),  ADX, ATR, OBV, MFI, Momentum and Composite index. Only one oscillator can be selected per chart.
  • 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.
Only the paid version of this product supports alerts. The paid version also has other features such as RSI filter.

Input parameters

  • Oscillator to use: Default is Stochastics. You can select from any of the above mentioned oscillators.
  • Use old logic (before version 1.5): True or False. Set to true to detect divergences the way it was before version 1.5. The new logic will detect more divergences but it will also come with a performance cost. Something which will be more visible on slower computers. The new logic will allow divergences even if there are additional indicator extremums (top/bottoms) between the 2 already existing extremum points.
  • Divergence candle shift (must be 0, 1 or 2)Set to 2 for a stronger confirmation of the possible reversal/trend continuation (confirmed divergence). By having it set to 1 you will catch the possible movement earlier (unconfirmed/pending divergence). On the other hand, the signal is less reliable. You can also set it to 0 for catching "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), which means that the price must show at least some sign of reversal. Please be aware though that this will lead to more false signals (repaintings). Higher values than 2 are not supported.
  • Bars to check (divergence depth): Bars back in time to check for a divergence.
  • Max history bars: Bars back in time for which to draw divergences.
  • MACD OsMA AND AWESOME SETTINGS
    • Fast MA: Default is 12 (set to 5 for Awesome).
    • Slow MA: Default is 26 (set to 34 for Awesome).
    • Signal MA (not used for Awesome): Default is 9.
  • CCI, RSI, RVI, ATR, MFI, MOMENTUM SETTINGS
    • Period: Default period is 14.
  • STOCHASTIC SETTINGS
    • K: Default is 14.
    • D: Default is 3.
    • Slowing: Default is 3.
    • Price type
  • ADX SETTINGS
  • COMPOSITE INDEX SETTINGS
    • RSI slow period
    • RSI fast period
    • Momentum period
    • Average period 1
    • Average period 2
    • Average period 3
    • Price type
    • Bullish line color: Color for bullish lines.
    • Bearish line color: Color for bearish lines.


    Please check out my other divergence products:

    Paid version of this product

    Divergence scanner

    Double divergence scanner

    Divergence dashboard

    Divergence Expert Advisor (free)


    Reviews 8
    8601567
    760
    8601567 2021.03.09 23:49 
     

    Very nice work and thank you for your generosity. This is why I buy your indicators. Price and quality.

    david.l
    443
    david.l 2020.11.19 16:11 
     

    thank you to make this free :)) i use it daily :)

    Danny
    372
    Danny 2020.10.26 09:50 
     

    Awesome divergence indicator at unbeatable price (FREE). Even provides some integration for EA. Just perfect, as long as you don't need notification.

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    8601567
    760
    8601567 2021.03.09 23:49 
     

    Very nice work and thank you for your generosity. This is why I buy your indicators. Price and quality.

    david.l
    443
    david.l 2020.11.19 16:11 
     

    thank you to make this free :)) i use it daily :)

    Danny
    372
    Danny 2020.10.26 09:50 
     

    Awesome divergence indicator at unbeatable price (FREE). Even provides some integration for EA. Just perfect, as long as you don't need notification.

    Valentin Butorin
    3864
    Valentin Butorin 2020.10.03 13:09 
     

    It works good. Thanks for sharing

    Briar Amberly
    51
    Briar Amberly 2020.07.23 19:21 
     

    Great product

    126961
    39
    126961 2020.05.11 19:19 
     

    This is a GREAT indicator !! Its like a 10 indicators all in 1 package. The divergence analysis is what I was originally looking for but now I use all the analysis that it provides. The FREE version works well with the paid version- I have both. You can use the free version all by itself if you want but if you decide to get the paid version you have to have to make sure both are setup. Ive also chatted with Jan a few times to make sure I was using it correctly since I am brand new to trading. This indicator can be used by beginners or experts. Its very comprehensive. I would recommend the free and paid version to everyone. I enjoy using it every day

    [Deleted] 2019.12.05 11:34 
     

    User didn't leave any comment to the rating

    Sergey Zhuravkov
    2131
    Sergey Zhuravkov 2019.09.18 14:08 
     

    Есть над чем подумать...

    Reply to review
    Version 1.6 2020.07.10
    *** Please always make a backup of the existing indicator (the .ex4 file) before you install an update ***

    - bug fix
    Version 1.5 2020.07.09
    *** Please always make a backup of the existing indicator (the .ex4 file) before you make an update ***

    - I have added the possibility to scan for "early" divergences. This means that the alert will come directly upon candle opening 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)
    - I have changed the logic of detecting divergences so that more divergences will be detected
    Version 1.4 2019.11.10
    *** This is not a mandatory update ***

    - replaced the parameter 'Wait for candle close' with new parameter 'Divergence candle shift'. Value 1 = previous parameter set to False and value 2 was value True. You can also set a higher value than 2.
    Version 1.3 2019.10.31
    - added support for MACD signal line, MFI, Momentum and Composite Index divergences
    Version 1.2 2019.10.14
    - added the possibility to scan for ATR and OBV divergences
    Version 1.1 2019.09.18
    - added scanning for ADX divergences
    - added a parameter for setting the divergence depth (bars back in time to check for a divergence)