Spread Divergence Indicator 3
From the Old Kings archive: Spread Divergence Indicator 3, an indicator for MetaTrader 4. Its name points to divergence between price and an oscillator and the spread. In the code it works with divergence checks. It has 4 settings, for example Pair1 (default EURUSD-fx), Pair2 (default USDCHF-fx) and multiplicator (default 0.001). 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 · v1.0 · Free
About Spread Divergence Indicator 3
Spread Divergence Indicator 3 is an indicator for MetaTrader 4 based on Divergence. It has 4 settings, such as Pair1, Pair2 and Multiplicator. MQL source code included.
Files in the download: Spread Divergence Indicator.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Pair1 | EURUSD-fx | |
| Pair2 | USDCHF-fx | |
| Multiplicator | 0.001 | How much the lot size grows after a loss |
| Max bars | 200 |
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 · MT4 Indicator · MQL4 Source Code