Divergence Checker looks for divergences in semi-automatic mode.
To check the specific case, make two clicks on the extremums in the indicator window. After that, the program automatically draws two trend lines:
- The line between the specified indicator peaks.
- The line between the price chart peaks in the specified area.
After that, the program analyzes the line slopes and lets you know if divergence is currently present. If divergence is detected, the indicator also displays an arrow on the trading symbol chart. The arrow shows the symbol price direction expected for this divergence.
Divergence Checker can define the following divergence types:
- Standard bullish divergence.
- Standard bearish divergence.
- Hidden bullish divergence.
- Hidden bearish divergence.
The product interface consists of the following elements: Pause/Continue button. The button stops/resumes reactions to user clicks in the chart windows. Thus, users can disable checking for divergences when it is not needed.
"Type of pattern" radio buttons. The buttons define the type of desired patterns:
- Auto – automatic detection. If the second click in the chart window is made below the zero point, bullish divergences are checked. Otherwise, the product looks for bearish ones.
- Bearish – bearish patterns. Only bearish divergences are considered.
- Bullish – bullish patterns. Only bullish divergences are considered.
"Current pattern" case description area. Explanations concerning a detected pattern are displayed here. The example explaining the product operation principles is displayed right after launching the indicator.
Hide button. When clicked, the EA window is folded into the panel. Click the panel, to unfold it back.
Close button. Click to delete the indicator from the chart window.
The indicator has the following input parameters:
- GrowingColor – color of the up lines and arrows.
- FallingColor – color of the down lines and arrows.