Reversal Divergence Trading
This Old Kings indicator for MetaTrader 4 is called Reversal Divergence Trading. As the name suggests, the idea behind it is divergence between price and an oscillator and reversals against the current move. In the code it works with ATR. It can send alerts. It has 13 settings, for example Time Zone Of Data (default 0), Time Zone Of Session (default 0) and ATRPeriod (default 5). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 3 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 Reversal Divergence Trading
Reversal Divergence Trading is an indicator for MetaTrader 4 based on ATR. It can alert you with a pop-up, sound, email or push message. It has 13 settings, such as Time zone of data, Time zone of session and Atr period. MQL source code included.
Files in the download: Reversal divergence trading\ADR 1.ex4, Reversal divergence trading\ADR 1.mq4, Reversal divergence trading\bb-div.ex4, Reversal divergence trading\reversal divrgence trading.tpl.
Settings
| Setting | Default | What it does |
|---|---|---|
| Time zone of data | 0 | chart time zone (from GMT) |
| Time zone of session | 0 | dest time zone (from GMT) |
| Atr period | 5 | period for ATR |
| Use manual adr | false | allows use of manual value for range |
| Manual adr value pips | 0 | manual value for range |
| Line style | 2 | |
| Line thickness1 | 1 | normal thickness |
| Line color1 | Orange | normal color |
| Line thickness2 | 2 | thickness for range reached state |
| Line color2 | Blue | color for range reached state |
| Bar for labels | -10 | number of bars from right, where lines labels will be shown |
| Debug logger | false | |
| Send email | 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 · Alerts · ATR · MT4 Indicator · MQL4 Source Code