Divergence Detection Indicator Using MACD
Forex divergence indicator
Divergence detection indicator using MACD
Divergences are one of the most important subjects in the technical analysis
and every technical analyst need to learn them.
In this article we are going to explain a little more about divergence.
Just to remind you of the topic, you may see the following image:
Divergence detection indicator using MACD
Detecting a divergence by a trader just in time and timely can be a great use and greatly useful to get succeeded in the trades.
One of the most important oscillators which is used in detecting divergence is MACD.
In the indicator we are going to introduce it to you with the help of MACD divergences will be detected and get marked in the chart.
Trader can simply detect them by a taking a look at the chart and consider them in his analysis
Although divergences are strong elements in technical analysis of Forex
and financial markets, it is recommended not to rely on them solely.
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What is a divergence?
Divergences are generally of two types:
- Regular divergence abbreviated as RD
- Hidden Divergence abbreviated as HD
Regular divergence:
These divergences are simply of two types:
- RD +: these divergences are formed in the bottoms (any time frame).
- When Botton A is formed and indicator too form a bottom matched with bottom A and the price goes up
- and then the price goes down and break bottom And form a bottom B whilst the indicator doesn’t break bottom
- A when forming bottom B. for detecting these kinds of divergences we use different indicators such as MACD, RSI, CCI and..
How to install indicators, script expert and template:
- To install indicator in mt4 firstly clock on “File” in metatrader tabs
- In the opened page open the relevant file to install the template and then attach pr paste your already copied template inside
- To install indicator or expert or script, open MQL4 folder
- Then if you want to install any indicator copy and paste it in the indicator folder
- if you want to install any expert copy and paste it in the expert folder
- if you want to install any script copy and paste it in the script folder
- close and open again your metatrader
- in the related menu you will notice your desired indicator script and expert being added
- all you need to do is to select your desired chart
- and then call it by clicking on indicator expert or script you like
- for your template, if you right click on the chart you will see your added template in the template sections which is available for you to being called
