Multi oscillator divergence MT5
The indicator identifies when a divergence occurs between price and an oscillator. It identifies both bullish and bearish divergences.
Please also check out my Double divergence scanner: https://www.mql5.com/en/market/product/29584
- Can detect divergences for the following oscillators: MACD, OsMA (Moving average of Oscillator), Stochastics, RSI, CCI, RVI and Awesome. Only one oscillator can be selected.
- Draws solid lines for regular/classical (potential reversal) divergences and dotted lines for hidden (trend continuation) divergences. The lines are drawn on the chart as well as in the indicator window.
- Sends an alert when a divergence has been detected.
- Oscillator to use: Default is Stochastics. You can select from any of the above mentioned oscillators.
- Divergence candle shift (must be >0): Default is 1. You can set it to a higher value for a stronger confirmation of the possible reversal/trend continuation. By having it set to 1 you will catch the possible movement earlier (pending divergence). On the other hand, the signal is less reliable.
- Scan for hidden divergences: True or False.
- Scan for regular divergences: True or False
- Max history bars: Bars back in time for which to draw divergences. Default is 1000.
- Bars to check (divergence depth): Default is 26 which corresponds to the default Slow MA.
- MACD and OsMA SETTINGS
- Fast MA: Default is 12 (fixed value 5 for Awesome).
- Slow MA: Default is 26 (fixed value 34 for Awesome).
- Signal MA: Default is 9.
- CCI, RSI AND RVI SETTINGS
- Period: Default period is 10.
- STOCHASTIC SETTINGS
- K: Default is 12.
- D: Default is 3.
- Slowing: Default is 3.
- RSI/Stochastics indicator window levels: Default is 80/20.
- Bullish divergence line color: Color for bullish lines.
- Bearish divergence line color: Color for bearish lines.
- Indicator level line: Color for indicator level lines.
- Alerts: Set to true for each alert type you would like to receive.