The Wildhog Divergence Forex indicator for Metatrader 4 identifies classic and hidden divergences between price and the Wildhog indicator.
The indicator transforms the bullish and bearish price divergences into easy-to-use buy and sell signal arrows.
Key Points
- Identifies classic & hidden divergences
- Draws arrows on the chart
- Works for any trade style
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system.
Free Download
Download the “Wildhog.mq4” MT4 indicator
Indicator Example Chart
The EUR/USD 15-minute chart below shows the Wildhog Divergence technical indicator in action.
Basic Trading Signals From the Wildhog Indicator
BUY:
- Open a buy position when the green Wildhog Divergence signal arrow gets printed on the chart.
- Place a stop loss below short-term support.
- Exit the buy trade for a predetermined profit target or wait for a sell signal.
SELL:
- Open a sell position when the magenta Wildhog Divergence signal arrow gets printed on the chart.
- Place a stop loss above short-term resistance.
- Exit the sell trade for a predetermined profit target or wait for a buy signal.
Download Now
Download the “Wildhog.mq4” MT4 indicator
Wildhog Divergence + Renko Boxes Trading Strategy
This strategy blends the precision of the Wildhog Divergence Indicator with the trend-filtering power of the Renko Boxes Indicator.
It’s designed to filter out market noise and provide clear, high-probability entry and exit points.
Why Combine Wildhog Divergence with Renko?
- Wildhog Divergence detects early reversal signals using classic and hidden divergence patterns.
- Renko Boxes filter out small fluctuations and confirm the overall trend, helping to reduce false entries.
Best Timeframes and Pairs
- Timeframes: M15, H1, H4
- Pairs: EUR/USD, GBP/USD, USD/JPY, and other major pairs
Buy Entry Rules
- Wait for a bullish divergence signal from the Wildhog Divergence Indicator (green arrow).
- Check that the Renko Boxes have turned green, indicating an upward trend.
- Enter a buy trade when both conditions align on the same candle or within 1–2 candles of each other.
- Set your stop loss below the most recent Renko support box or price swing low.
- Set your take profit at 2x the stop loss or trail using Renko box reversals.
Sell Entry Rules
- Wait for a bearish divergence signal from the Wildhog Divergence Indicator (magenta arrow).
- Confirm that the Renko Boxes have turned red, signaling a downward trend.
- Enter a sell trade when both signals align on the same candle or within 1–2 candles.
- Place your stop loss above the recent Renko resistance box or swing high.
- Set your take profit at 2x the stop loss or exit when Renko changes color to green.
Strategy Tips
- Avoid trading during major news events that can cause volatility spikes.
- Use the strategy on clean, trending markets for best results.
- Backtest thoroughly on your chosen pairs and timeframes before going live.
Adjustable Parameters & Settings
Length, overbought level, oversold level, divergence arrow size, draw divergences, show hidden divergence, show classic divergence, alerts, colors, style
Feel free to explore the indicator’s different parameters and settings to create your personalized indicator setup.
Technical Information
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: divergence signals
How to install the Wildhog indicator in Metatrader 4?
- Copy and paste the Wildhog.mq4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
