OWL Divergence Scanner

OWL Divergence Scanner is a professional-grade multi-timeframe, multi-symbol divergence detection tool for MetaTrader 5. Built with precision and speed in mind, this advanced scanner automatically identifies Regular and Hidden divergences across your favorite oscillators, helping traders spot high-probability trend reversal and continuation setups before the market moves.

Key Features

• Powerful Divergence Detection — Accurately detects both bullish and bearish regular divergences (for potential reversals) and hidden divergences (for trend continuation).
• Multi-Oscillator Support — Works with popular indicators such as RSI, MACD, Stochastic, and others (depending on internal configuration).
• Multi-Symbol & Multi-Timeframe Scanning — Monitors multiple currency pairs, indices, commodities, or stocks simultaneously across different timeframes in one convenient dashboard or on-chart display.
• Non-Repainting Signals — Arrows and lines are drawn only when confirmed, providing reliable visual cues.
• Real-Time Alerts — Customizable push notifications, email, and on-screen alerts so you never miss a divergence setup.
• Clean & Customizable Interface — Adjustable colors, sensitivity levels, minimum swing strength, and filter options for cleaner signals.
• Lightweight & Optimized — Efficient code ensures minimal impact on platform performance, even when scanning dozens of instruments.

Whether you are a scalper, day trader, or swing trader, the OWL Divergence Scanner acts as your personal market sentinel, highlighting hidden opportunities that manual analysis often misses.

Professional Use Cases

• Reversal Trading — Catch regular divergences at market tops and bottoms for high-R:R entries.
• Trend Continuation — Use hidden divergences to join strong trends with confidence.
• Confluence Strategy — Combine with support/resistance levels, moving averages, or price action for even stronger setups.
• Multi-Asset Monitoring — Ideal for forex, stocks, crypto, and futures traders who follow multiple instruments.

How to Install

1. Copy the OWL Divergence Scanner.ex5 file into your MetaTrader 5 MQL5/Indicators folder.
2. Restart MetaTrader 5 or refresh the Navigator panel (right-click → Refresh).
3. Drag and drop the indicator onto any chart.

Instructions for Use

1. Attach the Indicator — Open any chart and attach OWL Divergence Scanner.
2. Configure Settings:
   • Select the oscillator(s) you want to scan (RSI, MACD, Stochastic, etc.).
   • Choose Divergence Type: Regular only, Hidden only, or Both.
   • Set Sensitivity / Swing Strength (higher values = fewer but stronger signals).
   • Enable Multi-Timeframe scanning and select the timeframes you want to monitor.
   • Choose Symbols to scan (current chart, favorites, or custom list).
   • Customize alert options (pop-up, push notification, email, sound).
   • Adjust arrow colors, line styles, and display options for clarity.
3. Interpret the Signals:
   • Bullish Regular Divergence — Price makes lower lows while the oscillator makes higher lows → potential upward reversal.
   • Bearish Regular Divergence — Price makes higher highs while the oscillator makes lower highs → potential downward reversal.
   • Hidden Bullish Divergence — Price makes higher lows while the oscillator makes lower lows → trend continuation upward.
   • Hidden Bearish Divergence — Price makes lower highs while the oscillator makes higher highs → trend continuation downward.
   • Look for confluence with key levels or other indicators for best results.
4. Alerts — When a divergence is detected, the scanner will notify you instantly. Click on the alert or symbol in the dashboard (if available) to jump directly to the chart.

Pro Tip: Start with default settings on a major pair like EURUSD on H1 or H4 to get familiar with the signals, then fine-tune the sensitivity to match your trading style. Always use proper risk management — divergences are powerful but work best with confirmation.