The Wildhog Divergence Forex Indicator for MetaTrader 4 identifies both classic and hidden divergences between price and the Wildhog indicator.
It transforms these divergences into easy-to-use buy and sell signal arrows, aiding traders in spotting potential trend reversals.
This indicator is compatible with any trading strategy and works across all timeframes and currency pairs.
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 the 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
Frequently Asked Questions
Is the Wildhog Divergence Forex Indicator suitable for beginners?
Yes, the indicator is beginner-friendly due to its simple visual signals. However, beginners should practice on a demo account first to become familiar with interpreting the signals accurately and to develop a solid understanding of trend-following techniques.
Can the Wildhog Divergence Forex Indicator be used on all currency pairs?
Yes, the indicator works on all major and minor currency pairs in MetaTrader 4. It’s particularly effective on volatile pairs like EUR/USD, GBP/JPY, and XAU/USD. Testing it on your preferred pairs and timeframes is recommended to optimize performance.
Does the Wildhog Divergence Forex Indicator repaint?
No, the Wildhog Divergence Forex Indicator does not repaint. It provides reliable signals based on historical data, ensuring that the information it displays remains consistent and accurate over time.
Final Thoughts
The Wildhog Divergence Forex Indicator is a valuable tool for traders seeking to identify short-term market trends.
Its non-repainting nature ensures reliability, while the clear visual signals aid in making informed trading decisions.
