Spielers Hedge Divergence StdDev Indicator for MT4

Introduction to the Spielers Hedge Divergence StdDev Indicator

The Spielers Hedge Divergence StdDev Indicator 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.

The Spielers Hedge Divergence StdDev Indicator fits all kinds of timeframes and currency pairs. It 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.

Example trade with the Spielers Hedge Divergence StdDev Indicator

Below is the screenshot of an example trade with the Spielers Hedge Divergence StdDev Indicator.

Spielers Hedge Divergence StdDev Indicator Example Trade

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.

How to set up the Spielers Hedge Divergence StdDev indicator in MetaTrader (MT4)?

Installation Guide

Download the Spielers Hedge Divergence StdDev.rar archive at the bottom of this post, unpack it, then copy and paste the Spielers Hedge Divergence StdDev.ex4 or Spielers Hedge Divergence StdDev.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.

Bottom Line

The Spielers Hedge Divergence StdDev indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, 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. Don’t forget that we still have more great free forex MT4 indicators to download and try.

Download Free Forex MT4 Spielers Hedge Divergence StdDev Indicator

To download the Spielers Hedge Divergence StdDev Indicator for Metatrader 4 (MT4) for free just click the button below:

Spielers Hedge Divergence StdDev Indicator Free Download


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