SMT Divergence Oil Indicator for MetaTrader 4 Download - Free - [TFlab]

The SMT Divergence Oil Indicator analyzes price movements by identifying divergence patterns within MetaTrader 4 indicators.

This tool detects divergences between Crude Oil (XTIUSD), the US Dollar/Canadian Dollar pair (USD/CAD), and Brent Crude (XBRUSD), plotting divergences in buying and selling pressure directly on the chart.

SMT Divergence Oil Indicator Table

The key features of the SMT Divergence Oil Indicator are summarized in the table below:

Indicator in an Uptrend

The chart below shows a divergence between Crude Oil, Brent Crude, and the USD/CAD currency pair. The USD/CAD pair registers a Lower Low compared to the other indices, showing a weaker uptrend.

This divergence points to a potential reversal in the downward price movement, guiding traders to consider entering a Buy position.

Indicator in a Downtrend

In the following chart, the main asset (OIL) registers a Higher High compared to other assets, such as Brent Crude and USD/CAD.

Meanwhile, these secondary assets display Lower Lows, revealing a divergence in market behavior.

The indicator identifies this divergence, helping traders detect potential reversal zones and determine the overall trend direction.

SMT Divergence Oil Indicator Settings

The image below showcases the full settings panel of the indicator, including sections like Display, Symbols, and more:

• First Symbol: Select the primary symbol
• Second Symbol: Select the secondary symbol
• Third Symbol: Select the tertiary symbol
• Finding the Trend Divergence: Locate trend divergences
• Max Distance Between Swing Points for Trend Divergence: Set the maximum distance for divergence detection
• Finding the High/Low Divergence: Identify SMT line intersections
• Finding the Pushed Symbol: Detect SMT line overlaps

Conclusion

The SMT Divergence Oil Indicator is a trading assistant in MetaTrader 4 that focuses on identifying divergences among related assets.

By analyzing price movements of both primary and secondary asset price movements, this indicator enhances traders’ ability to detect trends, spot reversal points, and anticipate potential market shifts.