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REGISTER PARTICIPANTS Pz Divergence Trading 12.6

Discussion in 'Forex indicators MT4' started by Emma McNeill, Aug 10, 2020.

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  1. Emma McNeill

    Emma McNeill Moderator
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    Aug 5, 2020
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    Tricky to find and scarce in frequency, divergences are one of the most reliable and profitable trading scenarios. This indicator finds and scans for regular and hidden divergences automatically using your favourite oscillator. Its winning ratio is around 90%.
    • Finds regular and hidden divergences
    • Supports many well known oscillators
    • Implements trading signals based on breakouts
    • It displays suitable stop-loss and take-profit levels
    • Configurable oscillator parameters
    • Customizable colors and sizes
    • Filter divergences by size in bars
    • Implements performance statistics
    • Includes a multi-symbol and multi-timeframe scanner
    • It implements email/sound/visual alerts
    To offer a broad market perspective, the indicator can be loaded many times in the same chart using different oscillators, without interference. The indicator supports the following oscillators:
    • RSI
    • CCI
    • MACD
    • OSMA
    • Stochastic
    • Momentum
    • Awesome Oscillator
    • Accelerator Oscillator
    • Williams Percent Range
    • Relative Vigor Index
    • Money Flow Index
    • On Balance Volume
    The indicator uses different colors to display different types of divergences:
    • Regular bullish divergences are blue
    • Regular bearish divergences are red
    • Hidden bullish divergences are light blue
    • Hidden bearish divergences are pink
    Since divergences can expand quite a bit -especially in the forex market-, this indicator implements a twist: it waits for a donchian breakout to confirm the divergence before signaling the trade. The end result is an otherwise repainting indicator with a very reliable trading signal.


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