Description
Forex Divergence 3 automates one of the most reliable but time-consuming reads in technical analysis — divergence. On MetaTrader 4 it plots an OsMA (the MACD histogram of moving-average difference) in a sub-window and continuously compares its peaks and troughs against price. When price makes a higher high while OsMA makes a lower high (or the mirror image at lows), it draws the connecting divergence lines on both price and the oscillator, prints an arrow and can raise an alert. That highlights momentum weakening ahead of a possible reversal without you scanning charts by hand. The fast, slow and signal periods of the OsMA are adjustable, and divergence-line drawing and alerts can be toggled. Suitable for reversal trading, exit timing and confluence with support/resistance. Free MT4 (.mq4) source included. Educational tool, not financial advice.
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