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RSI Divergence Indicator MT4

FREE

Published: 26 May 2022

Current version: 3.6

RSI Divergence Indicator MT4

Name: RSI Divergence Indicator MT4
Rating: 4.769231 (13 reviews)
Author: Amir Atif

4.77

Indicators
Amir Atif
Version: 3.6
Updated: 28 February 2023

Always use the divergence indicators with other technical assets like support resistance zones, candlestick patterns and price action to have a higher possibility to find trend reversals.

Three confirmation type for RSI divergences:

RSI line cross 50 level
Price returns to previous H/L
Creating a new ZigZag leg in price chart

When divergence is confirmed, the indicator draws an arrow on the chart (not for the new ZigZag leg confirmation type).

This indicator uses ZigZag indicator to determine trend direction and HH/LL of the price, you can change the ZigZag parameters in the indicator's input window. You can add the ZigZag Indicator to your chart template to have a better look of painted divergences.

- You can set the indicator to alert only when RSI divergence occurs in the overbought/oversold levels.

- You can use indicator's "divergence type" buffer in your expert advisors.

You can check out the multi-timeframe/multi-symbol version of this indicator from this link.

more...

761

Tony Gregg 2024.06.13 20:36 #

Working good. Thank you!

garling 2024.05.21 07:33 #

can only use in MT5，sad

243

jenaustria 2024.05.18 10:01 #

A top tier indicator.

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