All In One Divergence Metatrader 4 Forex Indicator
The All In One Divergence Metatrader 4 forex indicator displays divergences between price and the RSI technical indicator.
The indicator displays the divergence in one easy to read separate MT4 window below the main chart.
There are two types of divergence, bullish and bearish.
How to trade?
- In up trending markets, look for a bullish divergence to occur between price and the RSI indicator
- In down trending market, look for a bearish divergence to occur between price and the RSI indicator
The All In One Divergence MT4 indicator makes it easy for you and finds and displays the divergence between any currency pair and RSI (see Euro/US Dollar chart below).
Divergences work for scalping, day trading and swing trading the currency markets.
The EUR/USD 15-Minute chart below displays the All In One Divergence Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the All In One Divergence MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open buy trade position when a bullish divergence occurs and the overall trend is upward.
Sell Signal: Open sell trade position when a bearish divergence occurs and the overall trend is downward.
Trade Exit: Close the open buy/sell trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (RSI, Kperiod, Dperiod, Fast EMA, Slow EMA, Slowing, MA method ) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the all-in-one-divergence-indicator.mq4 into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)