Divergence Only Chart Set up for MT4

Hi friendlies...

This is a setup for new traders who want to focus on the strongest divergence signals as possible.
I use this on the 1H chart with lots of success.

You should really be learning how to trend trade but being a new trader once upon a time, I know you will need to get the counter trend addiction out of your system first... so if you need to go through this habit this is your best bet.

• No candlestick colors just focus on Divergence lines only.
• Use it on the 1H chart and nothing less. No flipping through other timeframes just go for it.

Please do me a favor! Give a thumbs up to the original indicator's post and show your appreciation to ffsss's for his big contribution so more traders can see this fabulous code on the first page of Forex Station

With love,

Moey.

Fantastic indicator.
I'm always intrigued by any indicator related to divergence.
Thank you for sharing this indicator.

moey_dw wrote: Fri Oct 27, 2023 7:31 pmDivergence Only Chart Set up for MT4

I may be wrong but I think you packed the wrong template - it is only background and candles
the indicator with your default settings are missing (you can drag the indicator on it - but probably not with your settings)

moey_dw wrote: Fri Oct 27, 2023 7:31 pm Moey.
Divergences Only - MT4 On Chart Setup.zip

yeah, as he's not online at the mo the zip needs this as well.

josi wrote: Fri Oct 27, 2023 10:18 pm I may be wrong but I think you packed the wrong template - it is only background and candles
the indicator with your default settings are missing (you can drag the indicator on it - but probably not with your settings)

Ogee wrote: Fri Oct 27, 2023 10:35 pm yeah, as he's not online at the mo the zip needs this as well.

Hi Im sorry about it guys I reuploaded it again here can you please check it? Is it working?

moey_dw wrote: Fri Oct 27, 2023 10:49 pm Hi Im sorry about it guys I reuploaded it again

Tried it again
Works! Thanks!
Have a nice weekend!
(I like what I see - few signals etc.
But how exactly do you use it? Do you combine it with TLs? Because in this case it takes a long time coming (see screenshot) - and that will cost you a lot of money before price eventually starts going your way, if at all...
So - I think you need a definite point for entry and exit - TLs would be my obvious choice.)

josi wrote: Fri Oct 27, 2023 11:38 pm

Two hours later:

josi wrote: Sat Oct 28, 2023 1:45 am Two hours later

It will go up. It takes time and some drawdown but it will do it... check again after weekend!

What indicator is the divergence from? Mom or vMacd?
Ive searched far and wide for divergences before
All eventually fail becoz the deep trend
Confirmation should be required

moey_dw wrote: Sat Oct 28, 2023 1:59 am It will go up. It takes time and some drawdown but it will do it... check again after weekend!

So does that mean, you trade these signals without precise entries and exits?
Drawdown will sometimes be exorbitant, I think (depending on your lot-size we are talking tousands or tens of thousands of dollars - see screenshot - plus price has to come all the way back etc).
I think - a combination of your signals paired with TLs would make the trades a lot less stressful - but maybe that is just me: