Forex Divergence Breaker Swing Trading Strategy
From the Old Kings archive: Forex Divergence Breaker Swing Trading Strategy, an indicator for MetaTrader 4. As the name suggests, the idea behind it is divergence between price and an oscillator. In the code it works with divergence checks and MACD. It draws arrows on the chart and can send alerts. It has 16 settings, for example Bar Diff (default 1), r (default 2) and s (default 10). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 4 indicator files 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 · v1.0 · Free
About Forex Divergence Breaker Swing Trading Strategy
Forex Divergence Breaker Swing Trading Strategy is an indicator for MetaTrader 4 based on Divergence and MACD. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 16 settings, such as Bar diff, R and S. MQL source code included.
Files in the download: BH-Ergodic.mq4, CandleBreaker.ex4, divergence 1.tpl, DivergenceFX5_V2.0.mq4, installation manual.txt, THV3 Trix 4.01.ex4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Bar diff | 1 | calculations are taken between current bar and current bar + BarDiff |
| R | 2 | First moving average on mean values |
| S | 10 | Second moving average applied to first |
| U | 5 | Third moving average applied to division |
| Trigger | 3 | Final moving average or smoothing |
| Price type | 0 | 0=Close, 1=Open, 2=High, 3=Low, 4=Median, 5=Typical, 6=Weighted |
| Separator1 | *** OSMA Settings *** | |
| Fast ema | 12 | |
| Slow ema | 26 | |
| Signal | 9 | |
| Separator2 | *** Indicator Settings *** | |
| Positive sensitivity | 0.0001 | |
| Negative sensitivity | -0.0001 | |
| History bars count | 0.0 | |
| 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 · MACD · MT4 Indicator · MQL4 Source Code