Stochastic Divergence Indicator for MetaTrader 4 Download - [TradingFinder]

The Stochastic Divergence Indicator for MetaTrader 4 automatically detects divergences between the price chart and the Stochastic Oscillator and displays entry signals directly on the chart.

This MetaTrader 4 oscillator marks identified divergences with blue and pink lines in Technical analysis.

Stochastic Divergence Specifications Table

The general characteristics and specifications of the "Stochastic Divergence Indicator" are as follows:

Uptrend Conditions

The following chart displays the EUR/AUD currency pair in a 5 minute timeframe. The price creates a lower low, but the Stochastic Oscillator registers a higher low.

This Divergence signals a potential reversal toward an uptrend, and the Stochastic Divergence Indicator issues a Buy signal with a blue line.

Downtrend Conditions

On the 1-hour GBP/USD currency pair chart, the price forms a higher high, but the MetaTrader 4 oscillator registers a lower high.

This Divergence signals a potential reversal toward a downtrend, and the Oscillator displays a pink line to indicate a Sell signal.

Indicator Settings

The settings panel for the Stochastic Divergence Indicator is shown in the image below:

• K Period: K Length
• D Period: D Length
• Slowing: Deceleration
• Number of Candles for Pivots Calculation: Candle Count for Pivots
• Maximum Distance Between Two Pivots: Max Pivot Distance
• Minimum Distance Between Two Pivots: Min Pivot Distance
• Number of Divergences from Pivot: Divergence Count
• Number of Main Stochastic Breaks: Main Stochastic Breaks Count
• Shift: Shift or displacement
• Sell Divergence: Sell divergence color
• Buy Divergence: Buy divergence color
• Width: Line thickness

Conclusion

The Stochastic Divergence Indicator automatically identifies divergences between the price and the Stochastic Oscillator, displaying entry signals on the divergence line.

A bullish divergence provides a buy signal, while a bearish divergence provides a sell signal in Such as Forex and Digital Currency Markets