Divergence Recognition Forex Metatrader 4 Indicator
The Divergence Recognition Forex Metatrader 4 Indicator spots and draws high probability divergences on the currency chart.
The indicator works great for low risk-high profit trade entries.
It gives you entries right before the trend reverses direction.
Look at the chart below and you can see for yourself. The buy entry came right before the downtrend reversed back to an uptrend.
Apply the divergence indicator to any currency pair and time frame.
- A green Divergence Recognition indicator line suggests the trend will reverse from down to up.
- A red Divergence Recognition indicator line suggests the trend will reverse from up to down.
- High probability with low risk Forex indicator.
- Works for scalping, day trading and swing trading.
Feel free to explore the Divergence Recognition indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Example Chart (EUR/USD H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Divergence Recognition Forex Signals MT4 Indicator
Buy Signal: Open a buy trade order when the Divergence Recognition Forex indicator draws the green divergence line on the chart (see chart example above).
Place a stop loss below the most recent low or nearest consolidation level, or use your own favorite SL method.
Exit the divergence buy trade for a reward/risk ratio of at least 2.0.
Sell Signal: Open a sell trade order when the Divergence Recognition Forex indicator draws the red divergence line on the chart.
Place a stop loss above the most recent high or nearest consolidation level, or use your own favorite SL method.
Exit the divergence sell trade for a reward/risk ratio of at least 2.0.
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Line distance, maximum bars look back, colors, width, style.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: divergence
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.