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Re: Various Indicators - (MT5)

301 by Jimmy
boytoy wrote: Fri Jan 10, 2025 6:47 pm This is cool but how is it even used and whats it all about? It's called Divergent Bar but I don't see divergence or what does that even mean...
I've had a quick look at the indicator and added a description to the post.
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boytoy, mrtools, talaate
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List of our most powerful reversal indicators + Guide to the "All Averages" Filters (ADXvma, Laguerre etc.)
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Re: Various Indicators - (MT5)

303 by talaate
mrtools wrote: Fri Jan 10, 2025 1:15 am Divergent Bar indicator for MT4 and MT5

Hello, converted it and updated the mt4 version.

What is the Divergent Bar indicator?

The Divergent Bar indicator is designed for scalping and counter-trend trading. It's form of calculation is based off every tick and determines a reversal by comparing the current bar's price action (High, Low, Open and Close) with the previous bar:
  • If the current Low is lower than the "previous low" and the Close is higher than the Open it'll display an up arrow
  • If the current High is higher than the "previous high" and the Close is lower than the Open, it'll display a down arrow
You can adjust the Offset (Height) for the Arrows based on your preference but there's no other adjustable options in terms of the way the indicator calculates.

Basically it uses price action and a comparison between bars to determine trend direction changes and can be used as a scalping indicator without too much delay or add it to a system for extra confirmation.


EURUSDM15.png


! DivergentBar.mq4


DivergentBar.mq5
Dear mrtools
would you, if possible, to add alerts and MTF as well as Limit bar number (default may be 500) options
My Regards

Re: Various Indicators - (MT5)

304 by andrei-1
Sorry for this little screenshot, I had to sell a large monitor.

Alternative_price_m1.1 (soft power) cannot affect some indicators (RSI...).
Alternative_price_v2_0.2 (brute force) can change any indicator (even the great and terrible Jurik Volty).
First, he calculates the average candle height. Then he adds or subtracts it.

It has three new* modes.
"against"50 reduces the bars of the opposite direction.
"matching"50 increases the bars of the passing direction.
"all"33.333... changes all bars.
ap_cci.PNG
Alternative_price_v2_m0.2.mq4 Downloaded 74 times 2.41 KiB
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ionone


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