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RSI Divergence Indicator MT4

5

RSI divergence indicator finds divergences between price chart and RSI indicator and informs you with alerts (popup, mobile notification or email). Its main use is to find trend reversals in the chart.

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.


Reviews 2
Behzad Mohebali
80
Behzad Mohebali 2022.11.27 06:36 
 

An excellent and efficient tool Along with a professional and committed developer.

Hoping to add more features to this tool.

good luck

QqBbWw
54
QqBbWw 2022.10.30 08:29 
 

The version of 3.2and 3.4 can not remodeling horizontal line. The version of 2.0 can do it.

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Reward Multiplier is a semi-automatic trade manager based on pyramid trading that opens additional orders with the running profit of your trades to maximize return exponentially without increasing the risk. Unlike other similar EAs, this tool shows potential profit/loss and reward to risk ratio before even entering the first trade! When your trade goes into profit RM opens a new trade with the profit of the first trade and moves the stop loss of both orders to breakeven point. Now you have 2 o
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Behzad Mohebali
80
Behzad Mohebali 2022.11.27 06:36 
 

An excellent and efficient tool Along with a professional and committed developer.

Hoping to add more features to this tool.

good luck

QqBbWw
54
QqBbWw 2022.10.30 08:29 
 

The version of 3.2and 3.4 can not remodeling horizontal line. The version of 2.0 can do it.

Reply to review
Version 3.4 2022.10.29
Fixed a bug in drawing divergence lines and sending alerts for new divergences.
Version 3.3 2022.09.20
+ Significant improvement in the indicator performance and speed.
Version 3.1 2022.09.01
+ Finding hidden divergences added to the indicator.
+ Indicator performance improved.
- Fixed a bug in showing the alert for "RSI Cross 50 Level" confirmation.