Introduction to the All In One Divergence Indicator
The All In One Divergence indicator recognizes and marks divergences between price and the Relative Strength Index (RSI) technical indicator.
There are two types of divergences: bullish (upward price move) and bearish (downward price move).
It is pretty easy to follow the signals, simply follow these suggestions:
- In up trending market conditions, look for a bullish divergence to take place between price and the RSI indicator. There will be a yellow divergence line.
- In down trending market conditions, look for a bearish divergence to take place between price and the RSI indicator. There will be a red divergence line.
It fits all kinds of timeframes and currency pairs.
The indicator is displayed in a separate window placed just below the main trading chart.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the All In One Divergence indicator in MT4?
Copy and paste the all-in-one-divergence-indicator.ex4 or all-in-one-divergence-indicator.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The All In One Divergence indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
All In One Divergence Indicator Free Download
To download the All In One Divergence Indicator for Metatrader 4 (MT4) for free just click the button below: