Multi oscillator divergence FREE MT5
The indicator identifies when a divergence occurs between price and an oscillator. It identifies both regular and hidden divergences.
This free version has some limitations compared with the paid version. For instance alerts are not supported.
Please also check out my other divergence products:
- Can detect divergences for the following oscillators/indicators: MACD, OsMA, Stochastics, RSI, CCI, RVI, Awesome, ADX, ATR, OBV, Composite index, MFI and Momentum. Only one oscillator/indicator can be selected.
- 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.
- Oscillator to use: Default is MACD. You can select from any of the above mentioned oscillators/indicators.
- Divergence candle shift (must be >0): Default is 1. You can set it 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 (pending divergence). On the other hand, the signal is less reliable. Values higher 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. Default is 1000.
- MACD and OsMA SETTINGS
- Fast MA: Default is 12.
- Slow MA: Default is 26.
- Signal MA: Default is 9.
- CCI, RSI, RVI, ATR, MFI, MOMENTUM SETTINGS
- Period: Default period is 10.
- STOCHASTIC SETTINGS
- K: Default is 5.
- D: Default is 3.
- Slowing: Default is 3.
- Apply to price
- ADX AND OBV/MFI (VOLUME) SETTINGS
- ADX period
- ADX line mode
- OBV/MFI volume type for calculation: List box from where you can select from Tick volume or Real volume.
- COMPOSITE INDEX SETTINGS
- RSI slow period
- RSI fast period
- Momentum period
- Average period 1
- Average period 2
- Average period 3
- Price type
- Show RSI/Stochastics/MFI indicator window levels: True or False. Please leave this value to False if you are setting you own custom indicator levels.
- Indicator level 1: Default is 80.
- Indicator level 2: Default is 20.
- Indicator max. value: Default is 100.
- Indicator min. value: Default is 0.
- Bullish divergence line color: Color for bullish lines.
- Bearish divergence line color: Color for bearish lines.
- Indicator level line: Color for indicator level lines.
- added a parameter 'Divergence candle shift'. Default value is 1 (this is the value which was also automatically used in the previous version). 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/unconfirmed divergence). On the other hand, the signal is less reliable.