Divergences Template Indicator

Divergences Template Indicator MT4 indicator for multiple cycles.

Divergences Template Indicator MT4 (MetaTrader 4) indicator is a powerful tool for traders. The indicator helps to identify potential trading opportunities in different time frames.

The main features of the [tags:title] indicator include:

User-friendly interface: The indicator is designed with ease of use in mind, providing a simple and intuitive interface suitable for both novice and experienced traders.

How template works?

This indicator provides a template to be used to plot divergences based on your desired oscillator.

Depending on which oscillator you choose(whether it is CCI, RSI or even your custom indicator) you may modify this part of the code:

   /////////////////////////////////////////////
   //Load indicator data into indicator buffer
   //You can easily replace RSI with any indicator you like
   int BARS=MathMax(rates_total-IndicatorCounted()-pivots_period,1);
   for(int i=BARS;i>=0;i--)
   {
      indicatorBuffer[i]=iRSI(_Symbol, PERIOD_CURRENT, 14, PRICE_CLOSE, i);
   }
   //End of load indicator section
   /////////////////////////////////////////////

signal buffers

   SetIndexBuffer(3,bull_reg_divBuffer);
   SetIndexBuffer(4,bear_reg_divBuffer);
   SetIndexBuffer(5,bull_hid_divBuffer);
   SetIndexBuffer(6,bear_hid_divBuffer);

inputs section

input int pivots_period=5; //period to find indicator pivots
input int alert_confirm_candles=1; //#candles for confirmation(0=disable alert)

Finding pivot highs and pivot lows in indicatorBuffer depends on pivots_period input. The bigger you choose this value it will search larger swings for possible divergences.

Another input is alert_confirm_candles which defines how many bars to wait for confirming a signal. Divergence indicators are mostly lagging and issue a lot of false signals. The bigger you choose this value it will wait more and the number of false signals reduce. It is a compromise whether you want on-time signals or you want confirmed ones. 

Normally you are not allowed to apply  pivots_period < 2.

Repaint issue

   BARS=MathMax(rates_total-IndicatorCounted()-pivots_period,pivots_period);
   for(int i=BARS;i>=0;i--)
   {
      PHBuffer[i]=pivothigh(indicatorBuffer, pivots_period, pivots_period, i);
      PLBuffer[i]=pivotlow(indicatorBuffer, pivots_period, pivots_period, i);
      bull_reg_divBuffer[i]=BullRegDiv(i);
      bear_reg_divBuffer[i]=BearRegDiv(i);
      bull_hid_divBuffer[i]=BullHidDiv(i);
      bear_hid_divBuffer[i]=BearHidDiv(i);
   }   

How to install Divergences Template Indicator Indicator in MetaTrader 4 Forex Trading Platform?

• Extract the downloaded Divergences Template Indicator Indicator.zip file.
• In the MetaTrader 4 trading platform, go to the “File” menu and click “Open Data Folder”.
• Navigate to the MQL4 folder and then open the Indicators folder.
• Copy the extracted Divergences Template Indicator Indicator files into the Indicators folder.
• Restart the MetaTrader 4 platform or refresh the indicators list by right-clicking in the “Navigator” window and selecting “Refresh”.
• In the MetaTrader 4 platform, open the “Navigator” window (Ctrl+N) and locate the Divergences Template Indicator Indicator under the “Indicators” section.
• Drag and drop the Divergences Template Indicator Indicator onto the chart where you want to apply it.
• Configure the indicator settings as needed and click “OK” to add it to the chart.