MT4 Indicator “BJF-Multi-Divergence” shows regular and hidden divergence between price and 19 standard MT4 indicators for all MT4 time-frames: M1, M5, M15, M30, H1, H4, D1, W1, MN on 1 chart.
1. Relative Vigor Index Indicator (RVI)
2. Standard Deviation (StdDev)
3. Stochastic Oscillator (Stoch)
4. Williams’ Percent Range Technical Indicator (WPR)
5. Money Flow Index (MFI)
6. Momentum (Mom)
7. On Balance Volume (OBV)
8. Oscillator of Moving Average (OsMA Indicator)
9. Relative Strength Index (RSI)
10. Commodity Channel Index (CCI)
12. Force Index Technical Indicator
13. Gator Oscillator
14. Moving Average Convergence/Divergence (MACD)
15. Awesome Oscillator (AO)
16. Bollinger Bands (BB)
17. Market Facilitation Index Indicator (BW MFI)
18. Acceleration/Deceleration Indicator (AC)
19. The Average Directional Index (ADX indicator)
1. The search for divergences begins with determining the extremums on the price chart and on the indicator lines. The conditions for the search for extremums can be adjusted in the DIV-Summary Indicator settings. The screen shows which parameters are responsible for what:
2. When new bar appeared, we are searching for the first extremum (closest to the opening bar) on chart and indicator’s line. If the first extremum is found on the price chart, we are searching for a pair on the indicator line at a distance < = RightTops_MaxBarsDiff. The following screenshot shows the extremum was found first on the price chart, then the extremum was found through two candles on the indicator line, and it is not exceed the set value of RightTops_MaxBarsDiff = 5.
3. After first pair of extremums was found, we are searching for the second pair by the same algorithm, but distance between right and left correspondent extremums on indicator’s line and price chart shouldn’t be smaller then DivWidth_MinBars and larger then DivWidth_MaxBars. If pair of extremums do not meet these conditions – these extremums will be ignored.
4. Distance between extremums on price chart also checked in height. It shouldn’t be smaller then DivHeight_MinPips and bigger then DivHeight_MaxPips.
5. Extremums on the indicators lines will be checked additionally regarding levels. For example for CCI indicator with Bullish Divergence Reset Above = 0.0 only bullish divergences with extremes above zero will be displayed.
6. After right and left pair of extremums was found, we are checking if this pair represents hidden or standard divergence. Divergence lines will be drawn on price chart and indicator’s window.
7. We are searching for the divergence on historical data to the depths = MaxBars. We do not recommend to set this parameter to large to avoid high CPU usage.
8. In the table on chart, you can see last divergence signals which was found on the last closed bar.
9. It is possible to activate/ deactivate hidden or standard divergence calculation. You can also turn off divergence displays without disabling calculation: you need to set divergence color = none