
Spielers Hedge Divergence StdDev Indicator
Platform: MT4 Type: Channel Last update: September 25, 2024The Spielers Hedge Divergence StdDev Indicator for MT4 is a unique forex indicator based on Standard Deviation, that helps to recognize market overbought and oversold levels. It is a channel that consists of three red extensions defining overbought levels, three blue extensions defining oversold levels, and one yellow middle line for market balance. What’s more, there are two signal lines: green and pink.
Example trade with the Spielers Hedge Divergence StdDev Indicator
Below is the screenshot of an example trade with the Spielers Hedge Divergence StdDev Indicator.
Generally speaking, one should look for sell opportunities when pink and green lines rise to upper red extensions. Similarly, buy trade opportunities occur when pink end green signal lines drop to lower green extensions. In the example above, such a scenario happened (pay attention to red circle), and then the price, in fact, raised significantly.