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Momentum Divergence Metatrader 4 Forex Indicator

    Newbies can now get involved in trading divergence using the Momentum Divergence Metatrader 4 forex indicator.

    The indicator helps in spotting potential divergences formed with price action patterns.

    The indicator plots a buy signal when the price bars creates a lower low and the Momentum Divergence plots a higher low at the same time.

    This is interpreted as a bullish divergence.

    A bearish divergence is said to take place when price bars forms a higher high, while the Momentum Divergence indicator makes a lower high.

    Classic divergence takes place when the lines are solid, while reversed divergence occurs with dotted lines.

    Free Download

    Download the “momentum-divergence.ex4” MT4 indicator

    Example Chart

    The USD/CHF H1 chart below displays the Momentum Divergence Metatrader 4 forex indicator in action.

    Basic Trading Signals

    Buy Signal: Go long when the green upward pointing arrow of the Momentum Divergence Metatrader 4 forex indicator pops up following a classic bullish divergence.

    Sell Signal: Go short when the red downward pointing arrow of the Momentum Divergence Metatrader 4 forex indicator pops up following a classic bearish divergence.

    Exit buy trade: Close all buy orders if while a bullish trend is running, the Momentum Divergence indicator displays a red downward pointing arrow.

    Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the Momentum Divergence indicator pops up a green upward pointing arrow.

    Tips: The Momentum Divergence indicator draws all divergences automatically in the Momentum Divergence indicator window, making it easier to spot divergence


    Download the “momentum-divergence.ex4” Metatrader 4 indicator

    MT4 Indicator Characteristics

    Currency pairs: Any

    Platform: Metatrader 4

    Type: chart window indicator

    Customization options: Variable (separator1, MomPeriod, separator2, MomPrice, separator3, drawDivergenceLines, displayAlert), width & Style.

    Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

    Type: trend | divergence


    Copy and paste the momentum-divergence.ex4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.

    You can access this folder from the top menu as follows:

    File > Open Data Folder > MQL4 > Indicators (paste here)

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