EWO Divergence V1 2
EWO Divergence V1 2 — a MetaTrader 4 indicator kept in the Old Kings collection. Its name points to divergence between price and an oscillator. This copy is version 1.2. Its source code uses divergence checks and moving averages. It draws arrows on the chart and can send alerts. It has 10 settings, for example separator1 (default *** OSMA Settings ***), fast EMA (default 5) and slow EMA (default 34). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 1 indicator file with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Indicator · MT4 · v1 · Free
About EWO Divergence V1 2
EWO Divergence V1 2 is an indicator for MetaTrader 4 based on Divergence and Moving Average. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 10 settings, such as Separator1, Fast ema and Slow ema. MQL source code included.
Files in the download: EWO_Divergence_v1.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Separator1 | *** OSMA Settings *** | |
| Fast ema | 5 | |
| Slow ema | 34 | |
| Signal | 5 | |
| Separator2 | *** Indicator Settings *** | |
| Positive sensitivity | 0.0001 | |
| Negative sensitivity | -0.0001 | |
| History bars count | 0 | |
| Draw divergence lines | true | |
| Display alert | true | Turn this alert on or off |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Divergence · Buy/Sell Arrows · Alerts · Moving Average · MT4 Indicator · MQL4 Source Code